SEBI is on the cusp of a landmark reform, targeting the shadowy unlisted equity market with measures to enhance efficiency and curb risks. This proactive step promises to integrate private shares into a regulated framework.
The unlisted space, home to shares of non-listed firms, has thrived on opacity – word-of-mouth trades, arbitrary pricing, and minimal oversight. SEBI’s strategy introduces guardrails to professionalize operations.
Core elements: Centralized reporting platforms, broker registration mandates, and investor grievance redressal mechanisms. Trades over ₹10 lakh will require electronic verification, slashing fraud. Industry voices applaud the foresight. ‘Finally, parity with listed markets,’ says CFA charterholder Priya Mehta. ‘This levels the playing field for retail players.’ Building on extensive stakeholder inputs, SEBI’s proposal eyes a Q1 2025 launch.