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SEBI issues consultation paper seeking monitoring of tech firms' fund use for acquisitions SEBI

SEBI issues consultation paper seeking monitoring of tech firms' fund use for acquisitions

India Blooms News Service | @indiablooms | 17 Nov 2021, 08:18 am

Mumbai/IBNS: Securities and Exchange Board of India (SEBI) has issued a consultation paper focusing on the need to have more monitoring on how new-age tech firms are utilising funds for acquisitions, according to media reports.

In addition, SEBI also sought opinion whether additional disclosures on fund utilisation are needed or if it should need longer lock-in for anchor investors,Money Control reported.

On October 28, SEBI had issued a consultation paper proposing a series of measures to ensure ESG (Environment, Sustainability and Governance) mutual fund schemes act according to their objective, it added.

SEBI wants these mutual funds to define their objective and policy in clear terms as to what they aim to achieve by following an ESG – focused strategy and how it would materially make a difference.

The ESG-focused MFs must invest only in businesses that are covered under the mandatory Business Responsibility and Sustainability Report (BRSR), SEBI had proposed.

SEBI has sought comments on this ESG consultation paper by November 16, 2021.

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