Today, the monitoring agency reports to the issuer, the Audit Committee reviews it, and the company files it with the exchanges. SEBI's consultation paper of October 13, 2026 proposes to take the issuer out of that chain. 𝗧𝗵𝗲 𝗕𝗮𝗰𝗸𝗴𝗿𝗼𝘂𝗻𝗱: The LODR Working Group (chaired by Shri V S Sundaresan) found that some listed entities withheld or delayed information to monitoring agencies or delayed filing their reports. Investors were left without an answer to one basic qu

In March 2025, SEBI raised the minimum SME IPO application to ₹2 lakh to limit participation by smaller retail investors. Its consultation paper of October 14, 2026 proposes ₹1 lakh again, within a very different architecture. 𝗧𝗵𝗲 𝗕𝗮𝗰𝗸𝗴𝗿𝗼𝘂𝗻𝗱: The SME platform has outgrown its design. As of July 31, 2026, 1,496 entities have listed on it, ₹40,222 crore has been raised, and 365 companies have migrated to the Main Board. SEBI finds that paid-up capital no longer ref