Mumbai, June 24 (ANI): Market regulator Securities and Exchange Board of India (SEBI) plans to set up an alternative trading platform for internet start-ups, relaxing some of its requirements in an effort to encourage these companies to list at home instead of overseas. SEBI said the Institutional Trading Platform will be open to a broad range of technology companies, according to a statement released after its quarterly board meeting. The relaxed requirements include reducing the lock-in period for investors in start-ups to six months compared with three years for some initial public offerings (IPOs) and diluting disclosure standards for companies, SEBI said. The rules, which were widely expected, are aimed at luring start-ups that may have considered an overseas listing, given India has stringent requirements for regular IPOs.
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