SEBI's August 2025 consultation paper proposes key reforms to MPO and MPS norms for large-cap IPOs, aiming to enhance market capitalization and public shareholding. This article examines how these regulatory changes balance dilution concerns, boost investor protection, and address legal challenges to ensure market integrity and robust participation in India's equity markets.

Until refinements are made, mutual funds will remain on the sidelines of the pre-IPO market, limited to anchor allocations and public issues as India’s IPO boom continues unabated—while the question of whether protection has inadvertently become exclusion remains unresolved.

This blog aims to take a look at the strategic shift in how India is trying to positions itself in the global market and facing competition head on vis-a-vis markets like Singapore. 

SEBI’s 2025 proposals represent a significant evolution, combining empirical data, comparative insight, and statutory modernization. If adopted, these changes would foster a deeper, more diversified pool of anchor investors, strengthen the role of long-term institutions, and produce a more realistic structure for public allocation in large IPOs.

The broad direction of SEBI's reforms is unmistakable: a courageous move away from regulation-as-restraint towards regulation-as-catalyst. India's capital markets are being re-wired to facilitate innovation—not merely technologically, but structurally.

The authors discuss how the CoI Code falls short of aptly regulating the potential instances of conflict of interest, especially in light of the tech related advancements that have taken place over time.

This blog analyses the merger process under the new rules while comparing it with the process under older regulations,

This piece explores whether SEBI’s recent reforms are enough to rebuild trust and drive sustainable growth in the SME-IPO space.

The question remains whether startups will adapt to this new regulatory environment.

The author opposes the SEBI order as it reflects SEBI’s regulatory overreach.

This article has provided suggestions for creating a regulatory sandbox for ICOs monitored and regulated by SEBI.

A stable and predictable regulatory framework for the exit rights of PE investors is crucial for fostering investor confidence.

This article explores the rise of SPACs, their potential advantages and challenges in the Indian context.

The article discusses special rights of private equity investors in companies preparing for an IPO.

Spotify’s innovative method of direct listing seemed like the correct thing to do amidst popular unicorn IPO flops.

Author examines the effectiveness of the proposed reform of pre-filing of offer document.

The article examines the SPAC charm and discusses two possible incongruences of SPAC imports in the Indian markets.