Inventory exchanges ought to study to say ‘no’ to public listings of small and medium enterprises(SMEs), stated a senior Sebi official on Monday. “I used to be a banker and I used to be instructed to say no when required,” Sebi whole-time member Ashwani Bhatia stated at an trade occasion.
“No one is saying no to SME listings, even after they inflate their steadiness sheets. The auditors needs to be good medical doctors – do not give them steroids after they can survive on paracetamol,” he stated including lack of due diligence from auditors had led to insufficient checks and balances.
Based on Sebi, Over the last decade, greater than ₹14,000 crore has been raised by means of this platform, of which round ₹6,000 crore was raised throughout FY24.
