Sebi’s crackdown on Synoptics signals rising scrutiny of IPO gatekeepers
The market regulator’s rare order barring First Overseas Capital Ltd (FOCL) from taking on any new initial public offer (IPO) assignments after uncovering alleged fund diversion from an IPO may signal increased scrutiny of merchant bankers to shore up investor trust, according to experts. The interim order, issued on 6 May by the Securities and…
