India’s capital markets regulator has named Infosys founder N.R. Narayana Murthy to head a panel that will devise rules for a new funding platform for homegrown start-ups, the regulator said on its website.
In March, the Securities and Exchange Board of India (SEBI) announced an alternative investment platform targeted at the country’s booming internet start-ups, relaxing some key requirements to encourage them to list at home.
Murthy’s Alternative Investment Policy Advisory Committee (AIPAC) will devise policy and rules for the new platform, and is modeled after other regulatory panels that advise markets regulator Sebi on capital market policies.
The regulator released the details on its website as part of the panel’s terms of reference.
Tough rules have made start-up listings difficult in India, where rules restrict, for example, early exits of original shareholders.
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