Tag: Securities Regulation
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Rethinking Retail Participation: SEBI’s Proposal to Permit Incentives in Public Debt Offerings
[Sharnam Agarwal and Siddhant Samaiya are 3rd year students at National Law Institute University, Bhopal] Last month, the board of the Securities and Exchange Board of India (“SEBI”) approved a proposed amendment relating to public debt offerings, following its October 2025 consultation paper. The amendment permits issuers to provide higher coupons or issue-price discounts to specific investor classes, including senior citizens, women, armed forces
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Equality By Design: SEBI’s Latest Blueprint for AIF Investor Rights
[Kritika Jain and Niharika Singh are 4th Year B.B.A. LL.B. (Hons.) and B.A. LL.B. (Hons.) students, respectively, at Gujarat National Law University, Gandhinagar] On November 7, 2025, the Securities and Exchange Board of India (‘SEBI’) released a draft circular (the ‘Draft Circular’) seeking public comments on operational clarifications to pro-rata and pari-passu investor rights for Alternative Investment Funds (‘AIFs’). Through this,
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Unlocking Capital: SEBI’s Proposal to Ease Lock-in Norms for Pre-IPO Investors
[Khushi Patel is a 4th year BBA LLB student at Gujarat National Law University, Gandhinagar] India’s IPO pipeline continues to surge, driven not only by resilient market sentiment but also by the growing prevalence of pre-IPO placements and secondary exits by early-stage investors seeking to crystallize gains ahead of listing. In 2025 alone, nine of the 86 companies
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Demat and Pre-2019 Transfers: Implications of SEBI’s Proposed for Listed Companies
[Gungun Sharma and Vibhor Maloo are 4th year B.A. LL.B. (Hons.) students at Hidayatullah National Law University, Raipur] On October 17, 2025, Securities and Exchange Board of India (“SEBI”) issued a consultation paper proposing amendments to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“LODR Regulations”) to resolve a long-standing issue of transfer of shares executed in physical form before
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Streamlining the Voluntary Delisting of Public Sector Undertakings
[Ayush Agrawal is a 4th year B.A.LL.B. (Hons.) student at National Law Institute University, Bhopal] The regulatory landscape governing listed entities in India constantly evolves to address unique market challenges and governmental priorities of growth and welfare. A recent, significant development in India’s securities law is the introduction of regulation 38B under the Securities and Exchange Board of India
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SEBI’s New Framework for Technical Glitches: A Step Toward Balance or More Burden?
[Sharnam Agarwal is a 3rd year B.A. LL.B. (Hons.) student at National Law Institute University, Bhopal] Recently, the Securities and Exchange Board of India (“SEBI”) released a Consultation Paper titled, “Review of Framework to address the ‘technical glitches’ in Stock Brokers’ Electronic Trading Systems.” This paper proposes a comprehensive revision of SEBI’s 2022 framework which was established to address
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Rethinking Regulation: SEBI’s Proposal for Alternative Investment Funds
[Vanshika Sharma and Divyanshu Kumar are 4th year B.A., LL.B. (Hons.) students at NALSAR University of Law, Hyderabad] The Securities and Exchange Board of India (SEBI) has put forward a consultation paper that aims to create a new breed of Alternative Investment Fund (AIF) schemes restricted to Accredited Investors (AIs) and governed by a lighter-touch regulatory framework. The proposal published in August
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Proof of Market Manipulation: The Jane Street Case
[Bhavin Patel is a Programme Director and Natasha Aggarwal a Senior Research Fellow at TrustBridge Rule of Law Foundation] On 3 July 2025, the Securities and Exchange Board of India (“SEBI”) issued an ex-parte interim order against the Jane Street group. The order asserted that Jane Street employed manipulative strategies (intraday index manipulation and extended marking-the-close) on the NIFTY and BANKNIFTY
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SEBI’s Shift in Closing Price Mechanism: Rationale and Reality
[Ayush Raj and Tanay Hindocha are 4th year students of the B.A. LL.B. and BBA LL.B. (Hons.) programmes, respectively, at Gujarat National Law University.] In August 2025, SEBI floated a consultation paper proposing a major change in India’s closing‐price mechanism: replacing the day’s half‐hour volume‐weighted average price (VWAP) with a discrete closing auction session (CAS). SEBI argues in the paper
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Assessing the Viability of Opinion Trading Platforms in India
[Rishi A. Kumar and Zainab Bhanpurawala are fifth-year B.A., LL.B. (Hons.) students at Tamil Nadu National Law University and ILS Law College, Pune, respectively] On April 29, 2025, the Securities and Exchange Board of India (“SEBI”) published a cautionary press release to investors operating on opinion trading platforms. SEBI stated no investor protection mechanisms will apply, as opinion trading fall
