Investors and other market stakeholders from US have asked India’s capital market regulator SEBI to bring in reforms in the regulations for initial public offering (IPO), a statement said on Wednesday.
SEBI Chairman Ajay Tyagi, along with other SEBI officials, had an e-interaction on Tuesday with various stakeholders including industry and investor associations from the US. The interaction was organised by US India Strategic Partnership Forum (USISPF).
In the statement, the SEBI said that the participants also emphasised the need for early finalisation of direct listing proposal, development of the corporate bond market, digitisation of processes, and showed interest in participating in innovative ideas under SEBI’s regulatory sandbox framework.
Various queries raised during the meetings on multiple issues were clarified by the SEBI team, it said.
Tyagi said: “We interacted with various stakeholders including the investors in the Indian capital markets from the US. We briefed them about the key developments of the Indian economy as well as the recent trends in the securities market, especially in this Covid era. The achievements of Indian primary markets, secondary markets and specific products such REITs and InvITs were brought out in the interactions.”
The attractiveness of the Indian markets despite the Covid impact and the recent surge in foreign investment into India through the Foreign Portfolio Investment (FPI) route was also emphasised, he said.
Tyagi was of the view that the increasing number of registrations of FPIs every year and increasing inflows of FPI investment in the Indian equity market signify the sustained interest of the foreign investors in the Indian capital markets.
“Considering that the largest number of FPIs and about one third of the total assets under custody of FPIs are from USA, the importance of US investments into India was emphasized especially taking into account the growing partnership between the two countries,” the SEBI Chairman said.
