Photo of Rohit Tiwari

Partner in the Capital Markets practice at the Bangalore office of Cyril Amarchand Mangaldas. Rohit has advised clients across a wide range of sectors on public offerings of securities, including IPOs, REITs, qualified institutions placements and bond issuances. He has also contributed to the firm’s publications on private equity, corporate governance and REITs. He can be reached at

SEBI Directive on Promoter Group

In April 2022, the Securities and Exchange Board of India (SEBI) issued a directive (SEBI Directive) to the Association of Investment Bankers of India (AIBI) and some of its members on ways in which IPO bound companies could seek exemptions in relation to ‘promoter group’ disclosures in IPO offer documents.

In addition to introducing a further layer of complexity to the process of taking a company public, the SEBI Directive has reignited discussions on the relevance and significance of ‘promoter group’ as a concept.Continue Reading SEBI Directive on Promoter Group: Another spanner in the works?