Why was SEBI so keen to scrap mandatory IPO grading (as demanded by corporates) instead of making them effective and pulling up rating companies for shoddy rating?
Moneylife Digital Team
Market regulator Securities & Exchange Board of India (SEBI) has scrapped the idea of mandatory grading for initial public offering (IPO). As Moneylife has pointed out, this move by SEBI is anti-investor. The market regulator has responded to this by saying, "...the decision (to make IPO grading voluntary) was taken in its board meeting on 24 December 2013 and to allege that SEBI did not bother to consult investor association is baseless, erroneous and misleading".
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