SEBI Chairman Defends Transparency Amid IPO Valuation Concerns

Amid the rising concerns over recent IPO valuations, Securities and Exchange Board of India (SEBI) Chairman Tuhin Kanta Pandey stated that the regulator's main focus is on ensuring transparency through full disclosures, not on deciding valuations. According to Pandey, market forces are responsible for determining IPO valuations.

Pandey emphasized that SEBI's role is to make sure investors have access to complete and accurate information, allowing markets to set share prices independently. He noted SEBI's commitment to transparency, stating, "We don't determine valuations; share prices will be decided by the markets, depending on the opportunities."

On Business Responsibility and Sustainability Reporting (BRSR), Pandey assured that India's framework is tailored to local needs and involved over 1,200 companies. Addressing governance standards, Pandey urged timely appointments of independent directors on PSUs' boards and advocated for regulations fostering both market growth and investor trust.