Madhabi Puri Buch hinted at IPO reforms, while a massive selloff in the market wiped out Rs 7 lakh crore of investors’ wealth.
Madhabi Puri Buch on Tuesday warned bankers about bringing “pump-and-dump” companies to the stock market. The chairperson of the Securities and Exchange Board of India was speaking at the 13th annual convention of the Association of Investment Bankers of India in Mumbai. Buch hinted the market regulator will change how it handles initial public offerings. This came amid a major rout in the Indian stock market.
"Can't the banker figure out that a company planning to raise money had lower turnover three years back, and now suddenly it has a huge turnover? Or can't the banker see if …
Sethu writes on all things technology at The Morning Context. He previously worked as a senior sub-editor at Indian Express.
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