In a consultation paper, the watchdog has also suggested streamlining the disclosures requirement of group companies. The Securities and Exchange Board of India (Sebi) has sough comments from public on the proposals till June 10. With regard to lock-in period, Sebi has proposed that if the object of the issue involves offer for sale or financing other than for capital expenditure for a project, then the minimum promoters' contribution of 20 per cent should be locked-in for one year from the date of allotment in the Initial Public Offer (IPO). Currently, the lock-in period is three years. However, shares held by promoters should be exempt from lock-in requirements after six months from date of allotment in the IPO, only towards the purpose of achieving compliance with minimum public shareholding norms.