Sebi board tightens rules for utlisation of IPO proceeds

Markets regulator Sebi on Tuesday decided to put a cap on IPO proceeds earmarked for making future acquisition of unspecified targets and will bring under monitoring the funds reserved for general corporate purposes. The regulator has prescribed certain conditions for selling shares in an Offer-for-Sale (OFS) under IPO by significant shareholders and has extended anchor investors' lock-in period to 90 days, according to a statement issued by Sebi after its board meeting. https://ift.tt/3HheCE9