India's capital markets regulator Sebi eases IPO norms

The capital markets regulator, Securities and Exchange Board of India (Sebi) on Thursday eased disclosure norms for initial public offerings (IPOs) and tightened the definition of ‘promoter group’ to prevent fraudulent transactions. IPO issuers will now be allowed to announce the price bands two days before the issue opens for subscription instead of the previous five days, the new Sebi guidelines said. The new IPO norms include ‘immediate relatives’ within the definition of promoter and promoter groups.