SEBI Introduces Easier IPO Access & Automatic Lock-In For Pre-Issue Shares

SEBI Chairman Tuhin Kanta Pandey announced major reforms to the IPO process following a board meeting today. Addressing the media, Pandey highlighted the introduction of a "draft abridged prospectus" at the DRHP stage to help retail investors who struggle with "voluminous" documents. He stated, 'We'll get that QR code so that the people can easily access that abridged prospectus which will now get all the information which your eyeballs need quickly.' Additionally, the board approved amendments to the ICDR regulations to enable automatic lock-in for pre-issue capital, specifically resolving challenges with pledged shares through depositories. Pandey noted these changes were made in consultation with the Ministry of Corporate Affairs to enhance the "ease of doing business" and increase retail engagement in the capital markets.