The stock market regulator Securities & Exchange Board of India (Sebi) said on Saturday qualified institutional buyers will have to pay 100% of the primary issue on subscription, effective May 1.
Besides, it has made some recommendations for derivatives contracts, which will first be discussed with the bourses before implementation, Chandrasekhar Bhaskar Bhave, chairman of Sebi said at a press conference after its board meeting.
These recommendations include extending long-term derivatives contract to 5 years from 3 years now, introducing tradeable volatility index and physical delivery of derivatives contracts, Bhave said.
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