Haldea wants AIBI to elevate investor confidence along with market sentiments
The Association of Investment Bankers of India (AIBI) is identifying desired practices and processes that are crucial in expediting the capital formation in the country.
Similarly, the IPO process, timetables, and ways to simplify them while still meeting regulatory requirements will also be analysed by AIBI which has concluded its 1st Off-site Roundtable Discussion at Ali-baug, Maharashtra.
AIBI will set up a system to support merchant bankers’ capacity development and ongoing learning, especially for the new entrants who have registered as merchant bankers.
Additionally, the updated due diligence guide for merchant bankers will be released, AIBI said in a release on 18 Oct 2023.
The roundtable was held with an aim to uplift the role of investment bankers in the current primary market scenario.
The discussion primarily focussed on the initiatives identified towards capacity building of merchant bankers, promoting investor awareness and achieving ease of doing business in capital formation.
The most important tool for establishing ease of doing business and, consequently, contributing to nation building, is larger and faster capital formation.
Expressing his views on the roundtable, AIBI Chairman Mahavir Lunawat said, “After a full day of discussions at the AIBI Off-Site Roundtable, we have pinpointed particular areas for merchant bankers’ capacity building and continual learning, while also launching advocacy campaigns for financial literacy.
“We are collaborating closely with SEBI on a multitude of initiatives, such as establishing a SCORES platform at AIBI to track investor complaints about merchant bankers. The goal is to increase transparency and boost investor confidence.”
Prithvi Haldea, Founder-Chairman, Prime Database, who has been an Honorary Advisor to AIBI for over a decade, shared, “We have analysed various trends and data points which suggest the need for certain reforms in IPO documentation and processes, as also in the SME segment.
“AIBI must also play a larger role in investor education and in enhancing due diligence standards via strategic measures that elevate the investor confidence along with the market sentiments.”
AIBI is now recognised by SEBI as ‘Designated Body’ to monitor all grievances of merchant bankers and bankers to issue. It will be working closely with SEBI to monitor investor grievances relating to IPOs and other corporate actions where merchant bankers are involved.
Furthermore, AIBI will soon launch a program of financial literacy through digital as well as physical modes. Fiinews.com
