Sebi tightens rules governing utilisation of IPO proceeds; tweaks OFS norms

Tightening rules for initial public offering (IPO), Sebi has put a cap on the usage of the issue proceeds for unidentified future acquisitions and restricted the number of shares that can be offered by significant shareholders. Also, the regulator has extended anchor investors' lock-in period to 90 days and now, funds reserved for general corporate purposes will be monitored by credit rating agencies, according to a notification issued on January 14. https://ift.tt/3nxpsP2