More IPOs under scanner: Sebi

Securities and Exchange Board of India (Sebi) is investigating other initial public offerings (IPOs) to detect any possible manipulation.

"We have not closed the shop yet, the business is going on definitely," M Damodaran, chairman of Sebi, said today.

Refusing to disclose progress, he said the outcome would be made public later.

When asked about the investigations being carried out by Reserve Bank of India, he refused to divulge any details. "Conversation between regulators would remain between the regulators," he said.

On the concern of small investors regarding forthcoming IPOs, Damodaran maintained that there was nothing to be worried about. "Why should they be worried? If they believe that the offering is good at a particular price, they should apply," he added.