News digest: IPO norms, stressed power assets, Cannes Lions 2018, and more

Sebi also tweaked the definition of 'promoter group' to include immediate relatives, and revised the threshold for identifying promoter groups from 10% to 20%.

1. Sebi tweaks norms to aid fund-raising, caps tenure of MD & CEO of exchanges

The Securities and Exchange Board of India (Sebi) has made major changes in rules governing fund-raising, to provide flexibility to issuers and to boost capital formation.

The regulator tweaked norms governing stock exchanges, clearing corporations and depositories —known as market infrastructure institutions (MIIs) — capping the tenure of top officials and bringing in more accountability to the board structure.

Going ahead, a company will have to make public the pricing for its initial public offering (IPO) just two days before the opening as distinct from five days earlier.