For exit, anchors now to wait for 90 days after IPO as Sebi tightens norms

Sebi board sets minimum 5% gap in issue price bands

The Securities and Exchange Board of India (Sebi) in its last board meeting of the year, on Tuesday, tightened norms for public share sales.

The board has tightened rules for IPO proceed utilisation, prescribed a minimum 5 per cent gap in IPO price bands, extended the lock-in period for anchor investors to 90 days, and capped the amount a majority investor can sell through an offer for sale.

Anchor investors have to lock in their investment for 30 days for 50 per cent of the portion allocated to them. For the remaining portion, a lock-in of 90 days will be applicable. Sebi