India’s markets regulator is planning sweeping changes in rules that could bolster tiny-company listings and increase investor participation, according to people familiar with the matter.
The Securities and Exchange Board of India plans to allow companies with a market value of as much as Rs 4,000 crore ($420 million) to use the so-called small and medium-enterprise platforms for initial public offerings, the people said, asking not to be identified as the details are not public. Typically, firms valued less than 5 billion rupees go public on such platforms.
