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Sebi wants promoters to sell crypto before IPO

Sebi wants promoters to sell crypto before IPO SECTIONS Share Synopsis Sebi s diktat for promoters to offload crypto assets filing for an IPO appears to stem from possibility that the government may ban cryptocurrency that’s not state issued. Related Mumbai: Holding cryptocurrency may become a hindrance for promoters looking to raise money through an initial public offering (IPO). The Securities and Exchange Board of India (Sebi) wants promoters of such companies to sell off any cryptocurrency they have before raising funds, said several people with direct knowledge of the matter. In the past few weeks, Sebi has communicated this to merchant bankers, securities lawyers and even company executives involved with the IPO process. They told ET that the matter appears to stem from the possibility that the government may ban cryptocurrency that’s not state issued. Sebi didn’t respond to queries. “There could be a direction from the government in this regard. The market regu

India Ban Firms Raising Funds Through IPOs from Holding Cryptos

India securities regulator to reportedly bar IPO promoters from holding crypto

IPO promoters in India may soon be forced to sell their crypto amid reports of a blanket cryptocurrency ban in the country.