 "Sebi")
Markets regulator Sebi on Tuesday asked asset management companies (AMCs) to file final offer documents only digitally as a part of its "go green" initiative.
In addition, to safeguard the interests of investors in the securities market, Sebi said all new fund offers (NFOs) will remain open for subscription for a minimum period of three working days.
The new framework will be applicable with effect from May 1, 2023, the Securities and Exchange Board of India (Sebi) said in a circular.
Under the framework, AMCs will have to file all final offer documents -- SID (scheme information document) and KIM (key information memorandum) -- only digitally by e-mailing the same to a dedicated e-mail ID, and there would be no requirement of filing physical copies of the same with Sebi.
Such submission of all final SID and KIM in digital form will have to be made at least two working days before the launch of the scheme.
As per the current rules, Sebi mandated the submission of a soft copy of the final SIDs along with a printed copy seven working days before the launch of the scheme.
At present, there are 42 asset management companies, which together have an asset base of over Rs 40 lakh crore.
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