Sebi set to allow confidential pre-filing of IPO documents

Mumbai: The Securities and Exchange Board of India (Sebi) is set to allow companies holding initial public offerings (IPOs) to submit confidential pre-filing of offer documents; relax open offer pricing norms for the disinvestment of public sector undertakings (PSUs); and seek enhanced disclosures from startups in offer documents on the IPO issue price.

The regulator’s board, which will meet on September 30, will also clear a proposal to bring buying and selling by mutual funds under insider trading rules; they are currently excluded. The move comes in the wake of the Franklin Templeton episode in which some executives were accused of insider trading.

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