The List To ‘List’ Gets Longer: 15 Indian Tech Startups Express Interest To Go Public After SEBI Eases Norms
Around fifteen technology startups based out of India, have expressed an interest to go public in FY20 (2019-20) in response to SEBI’s recent relaxation of norms, reports The Hindu Business Line.
“About 15 start-ups have shown interest. Once SEBI comes out with the final guidelines in January, we will be able to share the names of a few start-ups. We are also planning a road-show in this regard soon,” said Atul Nishar, President of TiE Mumbai, to BL.
It was reported on 13 December (2018) that SEBI has amended capital listing norms to help startups working in certain sectors, to raise money from capital markets. The revised regulations will apply to all startup working in the e-commerce, data analytics, biotechnology and nanotechnology industries.
While the regulator altogether removing the requirement that investors should hold at least 25 per cent of the post issue capital, it reduced the minimum application size for share offers from Rs 10 lakh to Rs 2 lakh.
“This brings in a lot of enthusiasm and confidence among the investor community as it wants to be associated with new age technology companies,” added Mr Nishar.
In the recently released DIPP ranking for states, Gujarat emerged as the best destination for Indian startups, followed by Karnataka, Kerala, Odisha, and Rajasthan.