Tightening rules for initial public offering (IPO), SEBI has put a cap on the usage of the issue proceeds for unidentified future acquisitions and restricted the number of shares that can be offered by significant shareholders.
In order to ensure timely response with regard to IPO (Initial Public Offer) process, SCSBs would identify the nodal officer for IPO applications processed through UPI as a payment mechanism and submit the details to Sebi within seven working days