Published: 11th May, 2024
Context
A number of businesses have chosen to submit their initial public offering (IPO) documents in secret beforehand.
What is Confidential IPO Filing?
- By amending the Issue of Capital and Disclosure Regulations (ICDR), the Securities and Exchange Board of India (Sebi) enabled the confidential pre-filing of Draft Red Herring Prospectuses (PDRHP) an optional method starting in 2022.
- In contrast to the standard procedure, wherein the complete DRHP is disclosed to the public, the pre-filings in this case are private.
- When the corporation really decides on the timing, etc., of the issue, the DRHP—which takes into account the regulator's opinions—is released to the public.
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