“SEBI’s Madhabi Puri Buch reports a decrease in the number of pending mutual funds and IPO applications.”
SEBI: During a symposium in Mumbai, organized in collaboration with stock exchanges and depositories, Madhabi Puri Buch, the chairperson of the capital market regulator Sebi, highlighted the significant reduction in the time taken to process mutual fund and initial public offering (IPO) applications in recent years. She noted that as of November 2024, there are only two IPO applications older than six months, compared to eight in March 2022. Similarly, the number of mutual fund applications pending for more than six months has decreased from 69 in March 2022 to just one in November 2024, showcasing the regulator’s efforts to streamline the approval process.
Madhabi Puri emphasized the importance of capital raising through equity and highlighted the need to pay attention to preference and rights issues in the primary market. She mentioned initiatives such as fast-track rights issues and preferential issues aimed at promoting capital formation.
In addition, Madhabi Puri stressed the significance of financial inclusion and announced the proposed launch of a Rs 250 SIP to enhance accessibility to financial products. She urged the State Bank of India chairperson to support and promote the micro-SIP through their mutual fund business.
Furthermore, Madhabi Puri discussed the potential growth of Real Estate Investment Trusts (REITs), Infrastructure Investment Trusts (InvITS), and municipal bonds over the next decade. She also pointed out that India’s weight in the MSCI Index has been increasing steadily, resulting in Indian equity markets receiving a 20% share of global passive funds as part of the emerging market index inflows.
Overall, Madhabi Puri Buch’s remarks underscored the positive developments in the Indian capital markets and the regulator’s commitment to fostering growth and inclusivity in the financial sector.
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