Simplifying disclosures

Abridged prospectus will help retail investors

The Securities and Exchange Board of India (Sebi) recently issued a new circular relating to the disclosure of information on the application form for initial public offerings (IPOs). This goes into effect immediately. While the salient information to be provided isn’t subject to much alteration or addition, the regulator appears to be making a creditable effort to ensure this information is easily read and comprehensible. This is clearly aimed at making life easier for retail investors, who often rely purely on information given in the application form — institutions will surely analyse the extended documentation that is mandatorily available on