Rating agencies to zoom in on IPO funds’ end-use – The Times of India
MUMBAI: Monitoring the end-use of IPO proceeds is set to become more stringent, with the regulator likely to allow rating agencies to directly update stock exchanges with data on compliance with end-use norms by the companies.Currently, Sebi mandates equity issuers to appoint a credit rating agency to monitor most equity issues, excluding offer-for-sale where the…