The Securities and Exchange Board of India (SEBI) has announced Infosys founder N.R. Narayan Murthy as the head of a panel that will be responsible of devising rules and regulations for a new funding platform for domestic startups.
SEBI had earlier announced an alternative investment platform that will be solely targeted at India’s booming internet startups. Titled as Alternative Investment Policy Advisory Committee (AIPAC), the committee will create policies and rules for the new platform and is structured around similar regulatory models that advise markets regulator SEBI on capital market policies.
Earlier this year, SEBI was reported to have been working on amending the rules to make listing on Indian exchanges more convenient for startups. This comes at a time when e-commerce giants like Flipkart are rumoured to be considering an IPO on US exchanges.
Apart from the Infosys founder, the panel will include notable figures like KKR India Chief Executive Sanjay Nayar, Piramal Group chairman Ajay Piramal and Devinjit Singh, MD of Carlyle Group India. Saurabh Srivastava, founder of start-up incubator Indian Angel Network and representatives of SEBI, RBI and finance ministry will also be present.
