India markets regulator directs phased rollout of merchant banking overhaul
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India's markets regulator SEBI has proposed a phased rollout of new net worth requirements for merchant bankers to enhance risk management in the IPO market. By January 2027, bankers managing public offerings must have a minimum net worth of 250 million rupees, increasing to 500 million rupees by January 2028. Advisers will need a net worth of 75 million rupees initially, rising to 100 million rupees thereafter. This overhaul aims to strengthen the management of public issues and international offerings, as India continues to be a leading market for equity issuance.
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