NASSCOM welcomed and provided its comments on the SEBI’s Consultation Paper dated May 20, 2019 proposing norms for allowing Innovators Growth Platform (‘IGP’) listed entities to trade under regular category of main board of recognised stock exchanges (i.e. BSE/NSE).
We appreciate that since the inception of Institutional trading platform (‘ITP’) framework in 2015, SEBI has taken many steps including making amendments/relaxation in the SEBI (Issue of Capital and Disclosure Requirements), Regulations. Vide amendment in ICDR regulations in April 2019, the ITP platform is renamed as ‘Innovators Growth Platform’ (‘IGP’) and certain eligibility norms are being relaxed for entities intending to get listed at IGP.
We believe that the April 2019 amendments in IGP listing norms read with proposed relaxations under the Consultation Paper will provide the much needed motivation for the start-up culture, ensure smart funding and skill building to scale operations and revenue and thus revitalize the economy.
NASSCOM’s recommendation to the Consultation Paper is attached here. Please feel free to share your views and comments on the same.