SEBI eases IPO payment norms
Market regulator SEBI on Monday approved in-principle an alternative mode of payment for public and rights issues, which will enable applicants to keep money in banks till allotment of shares and thus eliminate the need for refunds. "The board approved, in-principle, the concept of marking lien on bank account as an alternative mode of payment in public/rights issues," SEBI said after its board meeting in Mumbai.
