SEBI Board Announcements
The Securities and Exchange Board of India (SEBI) has introduced several measures to facilitate investment and ease regulatory processes across various sectors.
Voluntary Delisting of Public Sector Undertakings (PSUs)
- PSUs with government or PSU shareholding of 90% or more can delist through a fixed-price process.
- The fixed price must be at least 15% premium over the floor price.
Relaxation for Foreign Portfolio Investors (FPIs)
- Regulatory requirements relaxed for FPIs investing exclusively in government securities (G-Secs).
- GS-FPIs will have harmonized KYC review periodicity with the Reserve Bank of India (RBI).
- GS-FPIs can now report material changes within 30 days.
- This relaxation coincides with global index providers including G-Secs in their bond indices.
Employee Stock Options (ESOPs) for Startups
- Founders classified as promoters can retain ESOPs granted at least a year before filing the draft red herring prospectus (DRHP).
- This supports public companies planning to list post reverse flipping and relaxes share-based benefits rules.
Alternative Investment Funds (AIFs) Co-Investment Scheme
- Category I & II AIFs can offer co-investment opportunities.
- Co-investment involves investment by an AIF manager or sponsor in unlisted companies.
- A separate co-investment scheme will be launched for each investment.
Settlement Scheme for Stock Brokers
- A settlement scheme is introduced for stock brokers who traded on the National Spot Exchange Ltd (NSEL) platform.
- This allows stock brokers to settle and expedite proceedings against them.
