M Damodaran, chairman of Securities and Exchange Board ofIndia (Sebi), today said the regulator was exploring ways to make the process of initial public offers (IPOs) more investor-friendly."We want to reduce the time-frame, and speed up the process of allotment and refund of money to investors. We have asked the permission of Reserve Bank of India for refund through ECS," Damodaran added.In the second stage, Sebi would like to have a system by which the actual debit of investors' application money and allotment is very close, he said.
