SEBI To Propose New Requirements For Financial Disclosures of Listed Companies


The Securities and Exchange Board of India (Sebi) has proposed tightening disclosure requirements for newly-listed companies' financial results.

Currently, listed companies must submit financial results 45 days after the end of each quarter.

"When a company is listed close to the deadline for submitting financial results, it is required to announce the first financial results within a very short period of time after listing. Because financial results are price sensitive information, such disclosures made immediately after listing may have a significant impact on the company's share price even before the price of its scrip has stabilised "Sebi stated in a discussion paper released on Tuesday.

In order to give newly-listed entities adequate time, the regulator stated.

The Securities and Exchange Board of India (SEBI) is the Indian government's regulatory body for the securities and commodity markets. It is owned by the Ministry of Finance. It was established as an executive body on April 12, 1988, and was given statutory powers on January 30, 1992, by the SEBI Act, 1992.