Sebi on Tuesday extended the validity of IPO and rights issue approvals till September 30 to provide companies more time to launch their offerings, amid ongoing tensions in West Asia, PTI reported.
The markets regulator’s observation letters expiring between April 1, 2026 and September 30, 2026 will now remain valid till September 30, 2026, according to a Sebi circular.
Under the existing norms, companies are required to launch their public issues within 12 months or 18 months, as applicable, from the date of issuance of Sebi’s observations, according to PTI.
“Considering the representation of the industry body, the prevailing uncertain market conditions due to ongoing geopolitical tensions and subdued investor participation, Sebi has decided to grant one-time relaxation to extend validity of the Sebi’s observations letters, expiring between April 1, 2026-September30, 2026 till September 30, 2026, ” the regulator said.
The move is expected to benefit several companies that had deferred or recalibrated their IPO plans due to volatile market conditions, thereby avoiding duplication of regulatory processes, as per PTI.
SEBI chief stresses board accountability for disclosures and corporate governance
The current framework for disclosures and the maintenance of corporate governance standards remain centered on the active responsibility of independent directors and company management, ANI quoted SEBI Chairman Tuhin Kanta Pandey on Monday, April 7.
Speaking to the media on the sidelines of the CII 19th Corporate Governance Summit in Mumbai, he noted that while regulations provide the necessary structure, the quality of governance is determined by the capability and diligence of those overseeing the process.
Pandey emphasized that the trust of shareholders and customers fluctuates based on how a company handles its internal insights and risk management. He pointed out that the regulator monitors financials and governance practices, but the primary duty of ensuring transparency lies within the board. He suggested that constructive discussions within the board are essential whenever management needs to explain specific developments, according to ANI.
“Even today, I have said that it is the responsibility of independent directors. It is a very important responsibility. It is the responsibility of the management, as per ANI. Management’s information, insights, governance, not just compliance, but also risk management, financials. We look at them. Along with looking at them, we take responsibility. If the management has to say something or explain something, there is a discussion in the board about it. There should be a discussion in the board about these things,” Pandey said. (With Agency Inputs)
