View on Sebi cuts lock-in period for promoters to 18 months post-IPO By Dr. V K Vijayakumar, Geojit Financial
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Below are View on Sebi cuts lock-in period for promoters to 18 months post-IPO By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
"The reduction in lock-in periods for minimum promoters' contribution is a welcome step. The idea of lock-in was a relic of the pre-1991 control regime. The objective was to prevent the promoters from disposing of their holding after listing, to ensure that promoters had ' skin in the game.' This restriction doesn't have much relevance in the modern liberalized regime. This will pave the way for more IPOs and make the IPO market deeper and healthier. However, investors in IPOs have to apply due diligence regarding the quality of IPOs, particularly OFSs"
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