Photo of Yash J. Ashar

National Head and Partner in the Capital Markets Practice at the Mumbai Office of Cyril Amarchand Mangaldas. An experienced practitioner in Indian securities law, Yash has been associated with a number of capital markets transactions including initial public offerings, follow-on offerings, QIPs, rights offerings, ADRs, GDRs and FCCBs.  He can be reached at yash.ashar@cyrilshroff.com‎

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?