Regulator File 5-sheet public offer documents

The stock markets regulator has said companies need to file a five- sheet prospectus for Initial Public Offerings.

IPO is the act of selling shares in a company for the first time.

A prospectus is a document that gives information about a companys shares before they are offered for sale.

The new norms will come into effect from December 1. Currently, the prospectuses that companies file for public offerings, including IPOs, run into 400 to 500 pages. Investors find them difficult.

Sebi said " information as is material and appropriate to enable the investors to make an informed decision shall be disclosed in the abridged prospectus".

Business Standard, New Delhi, 30th Oct. 2015

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