Abstract
The Indian securities market plays a pivotal role in the country’s economic development by facilitating capital formation, enabling corporate expansion, and offering investment opportunities to the public. This research paper provides a comprehensive analysis of the regulatory framework governing public issues and the listing of securities in India, with a primary focus on the role of the Securities and Exchange Board of India (SEBI). It explores the evolution of the market from a tightly controlled regime to a more liberalized, disclosure-based system and highlights SEBI’s efforts in maintaining market integrity, investor protection, and efficient capital mobilization. The paper delves into the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 and subsequent amendments, examining eligibility criteria, disclosure mandates, pricing guidelines, and the critical role of intermediaries like merchant bankers and underwriters. It also analyzes the listing requirements prescribed by stock exchanges, continuous disclosure obligations, and corporate governance norms that listed companies must adhere to. Special emphasis is placed on mechanisms such as ASBA and UPI, which have streamlined public participation and enhanced market efficiency. Further, the study addresses emerging challenges, including high compliance burdens for SMEs, the increasing importance of ESG disclosures, and the adoption of RegTech solutions. A comparative perspective with global regulatory frameworks—specifically those of the United States and the United Kingdom—offers insights into best practices and areas where Indian regulation can improve, such as real-time disclosures, whistleblower protections, and class-action mechanisms. The paper concludes by emphasizing SEBI's proactive role in regulatory evolution and suggests policy reforms to strengthen enforcement, transparency, and investor confidence. Through this examination, the research underscores the importance of a dynamic, well-enforced regulatory framework in fostering a resilient and globally competitive securities market in India.
Citations
IRE Journals:
Payal Taver
"Regulatory Framework for Public Issue and Listing of Securities in India" Iconic Research And Engineering Journals Volume 8 Issue 10 2025 Page 679-685
IEEE:
Payal Taver
"Regulatory Framework for Public Issue and Listing of Securities in India" Iconic Research And Engineering Journals, 8(10)
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