India's markets regulator on Wednesday said it had set up a working group to review a startup-listing platform that has seen little activity more than a decade after its launch.
The Innovators Growth Platform was set up by the National Stock Exchange of India in 2014 for startups and new-age companies that want to access public capital markets but may not yet satisfy the eligibility norms for the main board.
Here are the details:
• The Securities and Exchange Board of India said that the panel would examine whether the current framework remains relevant and effective to improve capital market access for innovation-led companies while keeping investor protection in place
• The review would cover research-stage, pre-revenue, intellectual property-led, deep-tech and other technology-intensive companies
• The review comes as India's startup ecosystem expands into sectors such as biotechnology, semiconductors and space, where companies often have longer development cycles and funding needs that differ from those of more established businesses
• The working group will also review listing and fundraising rules, investor eligibility, post-listing obligations and the process for moving companies from the IGP to the main board
