The Securities and Exchanges Board of India (Sebi) will take a close look at the pricing of initial public offerings (IPOs). The capital market watchdog feels the price-discovery mechanism of IPOs may not be on the right track.
However, the proposed central listing authority will neither have any say in pricing issues, nor will it monitor the end-use of issue proceeds.
Sebi chairman G N Bajpai told Business Standard the regulator would look into the price discovery process, but refused to disclose the plan.
