Sebi panel to mull quicker IPO process in Feb

The advisory committee of market regulator Securities and Exchange Board of India (Sebi) will meet next month to discuss ways to reduce time and cost involved in initial public offers (IPOs).

"The group on review of issue process has submitted its report and the Primary Market Advisory Committee (PMAC) is expected to discuss it in February," Sebi Chairman M Damodaran said here today. Once the PMAC gives its views to Sebi, it will discuss them and place it before the board for approval.

Damodaran added that short selling of shares by institutions would be allowed from February 1, if the stock exchanges were ready.

"Short selling by institutions from February 1 will be allowed provided exchanges are ready with the systems," Damodaran said on the sidelines of a function to sign a memorandum of understanding with the Securities and Exchange Commission (SEC) of Pakistan.

The agreement aims at enhancing cooperation, consultation and assistance on issues of common interest between the regulators of the two countries.

SEC Chairman Razi-ur-Rahman Khan said he would discuss with Sebi the possibility of allowing Pakistani companies to list in Indian bourses.