Tag: Securities Regulation
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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
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Broadening the Strategic Investor Base: SEBI’s Proposed Amendment to REIT and InvIT Norms
[Khushi Patel is a 4th year BBA LLB student at Gujarat National Law University, Gandhinagar] In a move that could significantly deepen India’s capital markets and enhance investor participation in real estate investment trusts (REITs) and infrastructure investment trusts (InvITs), SEBI released a consultation paper proposing a critical amendment to the definition of ‘strategic investors’. This proposal seeks to
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Unvested SARs in the IPO Pipeline: A Regulatory Blind Spot in SEBI’s 2025 ICDR Amendments
[Kinjal Ahuja and Ashish Rawat are 3rd year B.A., LL.B. (Hons.) students at Chanakya National Law University, Patna] In March 2025, the Securities and Exchange Board of India (SEBI) introduced a significant reform to its Issue of Capital and Disclosure Requirements (ICDR) Regulations, 2018. The amendment is widely hailed by the startup and tech ecosystem as it enables the companies to retain
