October 6, 2023
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Merchant bankers consider ways to expedite, simplify IPO process
The officials of The Association of Investment Bankers of India (AIBI), deliberated on the overall mechanism of launching an initial public offering (IPO) with a focus on the issue process, timelines, and ways to simplify them while still meeting regulatory requirements. Sebi recognises AIBI as a ‘Designated Body’ for monitoring investor grievances relating to merchant bankers and bankers to issue.
AIBI will set up a system to support merchant bankers’ capacity development and ongoing learning, especially for the new entrants who have registered as merchant bankers. Additionally, the updated due diligence guide for merchant bankers will be soon released by the industry body.
The aim of the discussions was to consider the role of investment bankers in the current primary market scenario that has seen a sudden spurt in the quantum of fund raising as August and September cumulatively saw more than 20 issues hitting the market.
The roundtable discussions held at Maharashtra’s Alibaug were led by Anant Barua, former whole-time member of Securities and Exchange Board of India (Sebi); Prithvi Haldea, Founder-Chairman of Prime Database; and S Subramanian, former MD of Axis Capital; along with AIBI Chairman Mahavir Lunawat and the board members of the investment bankers’ body.
“We are collaborating closely with Sebi on a multitude of initiatives, such as establishing a SCORES platform at AIBI to track investor complaints about merchant bankers. The goal is to increase transparency and boost investor confidence,” Mr. Lunawat added.
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