The Securities and Exchange Board of India (“SEBI”), in its board meeting held on September 30, 2022, which subsequently got notified in the official gazette dated November 21, 2022, had approved certain key proposals, including: • Disclosure of Key Performance Indicators (KPIs); • Disclosure of price per share of Issuer based on past transactions and past fund raising from the investors; and • Introduction of pre-filling of offer documents as an optional alternative mechanism for the purpose of Initial Public Offer on the Main Board. In this publication we have analyzed and shared our views and extent of compliance with the above mentioned regulations.

On 16 January 2023, the Reserve Bank of India (‘RBI’) issued a DP on the ECL based approach for loan loss provisioning by banks. In this context, the RBI had sought comments and input on a wide range of issues pertinent to implementing the ECL approach.