SEBI Forms Working Group To Review Mainboard IPO, FPO And Other Issuance Rules For Simpler Capital-Raising Requirements

The Securities and Exchange Board of India (SEBI) has formed a working group to review regulations governing initial public offerings (IPOs), follow-on public offers (FPOs) and other securities issuances, according to a Moneycontrol report published on 19 October 2026.

The review will cover SEBI’s Issue of Capital and Disclosure Requirements (ICDR) Regulations, which govern how companies raise capital through public and other securities issues. The objective is to simplify regulatory requirements, remove duplication and make the rules clearer.

What Will The SEBI Working Group Review?

The working group will examine the ICDR framework, which covers IPOs, FPOs, preferential issues and rights issues, among other forms of capital raising.

It will look at rules that can be made simpler, remove requirements that repeat existing provisions and revise unclear wording. The aim is to make the regulations easier to understand and apply.

The rules currently cover several aspects of fundraising, including eligibility conditions, disclosure requirements, pricing, allotment and procedural obligations for companies and intermediaries.

Why Is SEBI Reviewing Capital-Raising Regulations?

The review is part of SEBI’s broader effort to streamline capital-market regulations. SEBI Chairman Tuhin Kanta Pandey had previously indicated that the regulator would review both the SEBI ICDR Regulations and the Listing Obligations and Disclosure Requirements (LODR) Regulations, which govern listed companies’ disclosure and compliance obligations.

The regulator has also proposed changes to the monitoring of funds raised through public issues. Separately, it has floated proposals to revise requirements for small and medium enterprise (SME) IPOs, including eligibility conditions.

Any changes emerging from the review could affect how companies prepare public issues, meet disclosure obligations and navigate capital-raising procedures.

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