India's Sebi boosts IPO transparency and access with new rules on prospectuses, share locks, and faster account crediting.

India's securities regulator, Sebi, has implemented reforms to improve IPO transparency and investor access. A standardized, concise abridged prospectus will now be available at the draft red herring stage, featuring key details like risks, financials, and pricing, with a QR code for quick access. Pledged shares will be automatically locked during the six-month post-IPO lock-in period, strengthening compliance. The regulator also eliminated the need for Letters of Confirmation, enabling faster demat account crediting, and revised credit rating rules to expand coverage. Changes to unclaimed funds and debt issuer thresholds aim to reduce administrative burdens and boost market participation.