IPO, FPO and SME listing rules: SEBI to review framework, says Chairman Tuhin Kanta Pandey

What happened: SEBI is reviewing the framework for IPOs, FPOs and SME listings, Chairman Tuhin Kanta Pandey said at NDTV Profit Ignite. SEBI is also weighing steps to cut SME issuance costs and revise company classifications. Key numbers: India ranked first globally by number of IPOs in 2025. Why it matters: Pandey said IPO disclosures should be easier for ordinary investors to understand, and SEBI is working on third-party monitoring of how IPO proceeds are used. He flagged risks from listed companies with little economic activity that act like shell companies.

SEBI is reviewing the framework for IPOs, FPOs and SME listings, Chairman Tuhin Kanta Pandey said at NDTV Profit Ignite. SEBI is also weighing steps to cut SME issuance costs and revise company classifications.

Pandey said IPO disclosures should be easier for ordinary investors to understand, and SEBI is working on third-party monitoring of how IPO proceeds are used. He flagged risks from listed companies with little economic activity that act like shell companies.