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SEBI Warns Indian IPO Promoters To Divert Their Crypto Holdings.
2021-02-22 | Selina Mathew
“The market regulator seems to think that this might become a risk for investors if a promoter holds an asset that's illegal within the country,” added a securities lawyer within the report.Mahesh Singhi, director of investment banking firm, Singhi Advisors, revealed the fear is that the funds raised might be used for speculation.
“The regulator had been giving indirect messages on this and in certain cases, even other investors are cautious when it involves promoters holding cryptocurrency assets as these might be banned in India,” explained Mahesh.Having cryptocurrency holdings might be a “red flag” and might need to be mentioned in an IPO prospectus, he explained.
