SEBI, in its 211th Board meeting on September 12, 2025 approved sweeping regulatory measures to ease capital raising, expand market access, enhance governance, and deepen investor participation.
Key decisions include:
1. ๐๐๐ฏ๐ข๐ฌ๐๐ ๐๐ข๐ง๐ข๐ฆ๐ฎ๐ฆ ๐๐ฎ๐๐ฅ๐ข๐ ๐๐๐๐๐ซ ๐๐จ๐ซ๐ฆ๐ฌ: Amendments to the Securities Contracts (Regulation) Rules, 1957 reduce initial public float for large issuers (post-issue market cap > โน1 lakh crore) to 2.75% (โน6,250 crore) with a glide path of 15% in 5 years and 25% in 10 years, encouraging mega listings without market disruption.
2. ๐๐ซ๐จ๐๐๐๐ง๐๐ ๐๐ง๐๐ก๐จ๐ซ ๐๐ง๐ฏ๐๐ฌ๐ญ๐จ๐ซ ๐ ๐ซ๐๐ฆ๐๐ฐ๐จ๐ซ๐ค: Amendments to the ICDR Regulations, 2018 merge anchor categories, allow up to 15 investors per โน250 crore, and reserve 40% of the anchor book for domestic MFs, life insurers, and pension funds to enhance IPO book quality and stability.
3. ๐๐๐ฌ๐๐ ๐๐จ๐ฆ๐ฉ๐ฅ๐ข๐๐ง๐๐ ๐๐จ๐ซ ๐๐๐ฅ๐๐ญ๐๐ ๐๐๐ซ๐ญ๐ฒ ๐๐ซ๐๐ง๐ฌ๐๐๐ญ๐ข๐จ๐ง๐ฌ (๐๐๐๐ฌ): Amendments to the LODR Regulations, 2015 introduce scale-based materiality thresholds, revised audit committee thresholds for subsidiary RPTs, and simpler disclosure norms for small-value RPTs, balancing investor protection with ease of business.
4. ๐ ๐จ๐ซ๐๐ข๐ ๐ง ๐๐ง๐ฏ๐๐ฌ๐ญ๐จ๐ซ ๐ ๐ซ๐ข๐๐ง๐๐ฅ๐ฒ ๐๐๐๐ฌ๐ฎ๐ซ๐๐ฌ: Amendments to the SEBI FPI Regulations, 2019 allow retail schemes in the International Financial Services Centre to register as FPIs, align sponsor contribution limits with IFSCA Official norms, and operationalise Indian mutual fund investments in overseas MFs/UTs.
5. ๐๐๐ ๐ฎ๐ฅ๐๐ญ๐จ๐ซ๐ฒ ๐ ๐ฅ๐๐ฑ๐ข๐๐ข๐ฅ๐ข๐ญ๐ฒ ๐๐จ๐ซ ๐๐๐ ๐ฌ: AI-only schemes for accredited investors get relaxed norms (no pari passu, extended tenure) and Large Value Fund threshold cut from โน70 crore to โน25 crore, spurring risk capital formation under lighter regulation.
6. ๐๐๐๐ฌ ๐๐จ๐ฏ๐๐ซ๐ง๐๐ง๐๐ ๐๐ฏ๐๐ซ๐ก๐๐ฎ๐ฅ: MIIs must appoint two new Executive Directors (regulatory and critical operations), follow prescribed roles for MD, EDs, CTO & CISO, and adhere to norms on external directorships, reinforcing public interest as their foremost priority.
These measures reflect SEBIโs policy push, making Indian markets globally competitive while preserving market integrity and investor trust. ย
Refer to SEBI press release at https://lnkd.in/gw7jjmDH