class="MsoNormal" style="text-align: justify;">The Securities and Exchange Board of India (SEBI), on March 16, 2026, notified amendments to the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 to enhance disclosure standards, digitize investor access, and streamline IPO documentation requirements.
The amendments introduce the concept of a draft abridged prospectus to be filed and hosted alongside offer documents at various stages, ensuring early-stage simplified disclosures for investors. A key reform replaces the requirement of physically attaching abridged prospectus with QR codes and web links providing access to the red herring prospectus, abridged prospectus, and price band advertisement. Further, provisions mandate hosting of abridged prospectus on websites of issuers, SEBI, stock exchanges, and intermediaries, along with expanded filing obligations across multiple regulations.
Additionally, the amendments revise Schedule VI to include summary of contingent liabilities and related party transactions, introduce cross-referencing between documents, and mandate disclosures in simple and understandable language. It also provides that where lock-in cannot be created, securities shall be marked as “non-transferable” for the lock-in period. These changes aim to improve transparency, accessibility, and investor protection through a more digital and standardized disclosure framework.
[Notification No. SEBI/LAD-NRO/GN/2026/299]
