In 2015, a new segment named as Institutional Trading Platform (ITP) was introduced by Securities and Exchange Board of India (SEBI), with a view to facilitate listing of new age start-ups. In 2019, SEBI attempted to revive the platform by introducing certain amendments to the ITP framework and renamed it as the Innovators Growth Platform (IGP).
IGP is aimed at issuers which are intensive in use of technology, information technology, intellectual property, data analytics, bio-technology or nanotechnology. Despite certain amendments, IGP could not get any traction and no listing by issuers have so far taken place on IGP platform. In order to make IGP attractive, SEBI has released a consultation paper to seek inputs on proposed amendments in the IGP framework.
The suggestions include reduction in holding period of pre-issue capital, doing away with lock-in period of pre-issue capital for Alternative Investment Funds (AIF) – category II, voluntary delisting, migration to Main Board etc.
In this regard, we would request you to send your inputs/views on the proposed amendments before 5 January 2021 to firstname.lastname@example.org and email@example.com. Please include a reference to the relevant paragraph of the consultation paper along with the rationale for sending your suggestions.