Sebi for IPO details in audiovisual format
Mumbai, March 20
Financial market regulator Securities and Exchange Board of India (SEBI) has proposed that companies desirous of raising capital through public issues may be required to file disclosures made in the draft red herring prospectus (DRHP) in an audiovisual format. The disclosures are made for investors so that they can make informed decisions while investing in the company’s public issue.
DRHP is a document that consists of the company’s financial details, future prospects, and other key aspects regarding the business and is being filed to the regulator to raise money essentially via public offerings of its shares.
In its draft put up on its website on Tuesday, the regulator proposed that the audio visual on the public issues will be in bilingual version — English and Hindi and made available in the public domain. SEBI said it is expected that the audiovisual will provide ease in understanding the salient features and also provide reference to various disclosures of the public issue.
