INSTITUTIONAL PARTICIPATION MUST FOR IPOS, SAYS SEBI

Capital markets regulator Securities and Exchange Board of India (Sebi) has said spillover from the
retail category to the qualified institutional buyers (QIBs) category in initial public offerings (IPOs)
will not be permitted. Any public offering will need compulsory participation from QIBs, which, among others, includes foreign institutional investors (FIIs), mutual funds and insurance companies.