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Sebi wants stricter monitoring of IPO proceeds by small firms

Sebi wants stricter monitoring of IPO proceeds by small firms

Thursday, April 13, 2017, 7:07 PM

To check any misuse of funds raised through IPOs, regulator Sebi plans to make it mandatory for all companies to appoint a monitoring agency to keep a tab on use of the capital raised through share sale. Under the present norms, such a monitoring agency-which could be a bank or public financial institution-is required to be appointed only by the companies.
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