The Securities and Exchange Board of India (SEBI) has formed a working group to review whether the Innovators Growth Platform (IGP) framework meets the financing needs of enterprises driven by research, innovation and advanced technology. The review aims to facilitate access to capital markets while maintaining investor protection, including for businesses at the research stage, those not yet generating revenue and those built around intellectual property. The group will assess eligibility and listing requirements alongside rules governing investor eligibility, participation and investment. Its review of capital raising will cover public offerings and offers for sale, including pricing, allocation and minimum subscription requirements. It will also examine disclosure and governance obligations, trading rules and other continuing obligations after listing, together with eligibility and procedures for migration to the Main Board. The group will benchmark the IGP against relevant international frameworks for innovative and growing companies and consider adaptations for India. Its recommendations to SEBI will address necessary regulatory amendments and measures for transition and implementation.

Original source