SEBI Flags Risks From Shell-Like Listed Companies, Proposes Stricter IPO Fund Monitoring Rules

Securities and Exchange Board of India (SEBI) Chairman Tuhin Kanta Pandey on Wednesday warned that certain listed companies with little or no economic activity resemble shell companies and pose risks to investors.He said the regulator was developing stronger oversight mechanisms to ensure companies use funds raised through initial public offerings (IPOs) for their stated purposes.Pandey stressed that companies accessing public...