SEBI plans to tighten IPO rules

Fortunes of investment banks dominant in initial public offers may deteriorate as the regulator attempts to split their roles in due diligence of a company before the share sale, and marketing the issue to investors, said two people familiar with the plans. A panel appointed by the Securities & Exchange Board of India will probably suggest ways to improve the understanding of investors by mandating valuations comparisons with rivals at the time of sale, those people said requesting anonymity. The panel may submit recommendations in a few weeks, but are not binding on the regulator.

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