Sebi may issue LODR review paper in 4 to 6 months: Chairman

Sebi Expected to Release Draft Consultation Paper on Comprehensive Overhaul of Listing Obligations

The Securities and Exchange Board of India (Sebi) is planning to release a draft consultation paper on the comprehensive overhaul of the Listing Obligations and Disclosure Requirements (LODR) within the next four to six months, according to Sebi chairman Tuhin Kanta Pandey.

Wide-Ranging Review and Industry Feedback

• The review will cover challenges faced by companies listed on SME exchanges.
• Promoters' issues and new-age companies will also be included in the review.
• Industry feedback is being considered to shape the overhaul process.

"Listing regulations constitute a major regulatory framework. In today's meeting too, we received several suggestions — some relating to existing ambiguities, and others proposing more forward-looking approaches," Pandey said.

New Initiatives for Micro, Small and Medium Enterprises (MSMEs)

• CII has proposed a project under its Centre of Excellence for MSMEs to train and guide them on accessing the capital markets.
• Sebi, exchanges, depositories, and other ecosystem partners will extend support to MSMEs.
• The goal is to create an enabling environment for MSMEs to participate in the capital market ecosystem.

Sebi chairman Tuhin Kanta Pandey has set a target of getting at least 1,000 MSMEs from the South to raise equity over the next three to four years, according to Thomas John Muthoot, Chairman, CII-SR.

Additional Initiatives to Simplify Compliance and Support Retail Investors

• Consolidating multiple regulatory filings into a unified reporting mechanism is being considered.
• A short, easy-to-read summary of key IPO details is proposed for retail investors.
• A consultation paper on this has been released, and comments are being sought before moving forward.