The minimum offering size for Social Stock Exchange has been lowered to Rs 50 lakh by SEBI
Additionally, in order to encourage accountability and openness in the management and control of financial benchmarks in the securities market, a regulatory framework for index providers will be developed.
The market regulator Sebi voted to create a regulatory framework for index providers on Saturday in addition to approving giving non-profit organizations (NPOs) more latitude when it comes to collecting money via social stock exchanges.
During its meeting held here, the board of the Securities and Exchange Board of India (SEBI) made some of these choices.
The regulator said in a statement that there would be flexibility offered for non-profit organizations to raise money using social stock markets.
The minimum issue size for NPOs looking to publicly issue Zero Coupon Zero Principal Instruments (ZCZP) on the Social Stock Exchange would drop from Rs 1 crore to Rs 50 lakh in this respect.
A regulatory framework for index providers will be developed, among other things, to encourage accountability and transparency in the governance and management of financial benchmarks in the securities market.
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