Street signs: Sebi to boost IPO division

The Securities and Exchange Board of India (Sebi) plans to strengthen its corporate finance division (CFD), which is responsible for vetting and clearing of initial public offerings (IPOs). The move comes after many companies have filed for big-ticket offerings. Some of the recent filings include HDFC Standard Life, Reliance Nippon Asset Management, General Insurance Corporation, New India Assurance and Godrej Agrovet. “The workload on the CFD has increased. To ensure there is no slowdown in the IPO clearing process, Sebi is considering some intra-divisional restructuring,“ said a source. Investment bankers say IPOs worth more than $5 billion (Rs 32,000 crore)