Public offer, delisting norms to be eased

New Delhi, Nov 15 | Updated: Nov 16 2005, 05:46am hrs
Norms for public offer and delisting of shares would be eased shortly, the Securities and Exchange Board of India (Sebi) said on Tuesday. However, market surveillance would be stepped up.

Sebi chairman M Damodaran on Tuesday said that an integrated market surveillance system would be put in place by March 2006. That apart a slew of regulations would also be introduced to ensure smooth functioning of the markets. Mr Damodaran, speaking at the conference here, pointed out that the regulator plans to allow short selling shares by institutional investors by this year end. Though our mandate is to develop the market, we will not lower the regulatory standards, he said.

Mr Damodaran added that it was focusing on launching more products, faster processes and lowering costs to make equity investment attractive in India.

He pointed out that there has been a significant increase in compliance among the listed companies. However he also admitted that there are problem companies that are listed in the bourses and needs to be dealt with.