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Below the Comment SEBI board decisions by Ajay Kejriwal, Executive Director, Choice Equity Broking Pvt Ltd

Minimum Public Offer (MPO) & MPS

Lower initial public float and extended timelines for very large issuers is a bold move. This can genuinely encourage mega-IPOs to list in India rather than overseas.
But we have to watch liquidity and the overhang from future dilution. I’d like to see enhanced disclosures and active liquidity monitoring for low-float stocks.
 

Anchor Investor Allocation
I welcome the inclusion of life insurers and pension funds in the anchor quota. It brings more long-term, stable capital to IPOs.
My only concern is ensuring smaller domestic institutions don’t get crowded out. Transparency in post-IPO allocation data would help.
 

Mutual Funds – REITs/InvITs & Inclusion
Reclassifying REITs as equity, cutting exit loads to 3% and incentivising B-30 and women investors can expand participation.
However, risks in REITs should be clearly disclosed, and incentive misuse needs monitoring.

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