Sebi cracks whip on banks for retail IPO work

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By John Loh
21 Feb 2018

The Securities and Exchange Board of India (Sebi) is cracking the whip on banks managing IPO applications for retail accounts, saying investors may have to be compensated under certain conditions.

In a circular dated February 15 that was effective immediately, the market watchdog said there have been instances where retail applicants had failed to obtain shares in a listing due to sloppy work on the part of their bankers, resulting in opportunity costs.

Sebi said some banks ...

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