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Sebi has significantly reduced the backlog of pending IPO applications by implementing artificial intelligence. As of July 2024, the number of applications pending for over three months has decreased from 19 to just eight. This improvement is attributed to the regulator's focus on utilizing AI to streamline the approval process and enhance supervision.
The chairperson of Sebi, Madhabi Puri Buch, highlighted that nearly half of the AI initiatives are aimed at expediting approvals, while the other half focuses on improving oversight. Additionally, efforts are being made to standardize processes across various exchanges to lower innovation costs. The adoption of technology has also facilitated quicker market feedback assessments, allowing for more efficient regulatory consultations.
• Sebi reduces pending IPO applications from 19 to 8 using AI.
• AI initiatives aim to speed up approval and enhance supervision processes.
In this context, AI is being used by Sebi to streamline the IPO approval process and improve regulatory oversight.
Sebi is working on standardizing file formats among exchanges to reduce costs and encourage innovation.
Sebi's automated systems allow for rapid collation and assessment of market feedback during regulatory consultations.
The organization is leveraging AI to enhance its operational efficiency and regulatory processes.
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