Review of framework of Innovators Growth platform (IGP) under SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018

Consultation Paper

Review of framework of Innovators Growth platform (IGP) under SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.

1. Objective

1.1. The objective of this discussion paper is to seek comments / views from various stakeholders including start-ups in particular, market intermediaries and the public on the framework of Innovators Growth platform (IGP) under Chapter X
of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (the SEBI ICDR Regulations').

2. Background

2.1. In 2015, a new segment named as Institutional Trading Platform (ITP) was introduced by SEBI, with a view to facilitate listing of new age start-ups. However, the ITP framework failed to evince interest.

2.2. In 2019, SEBI attempted to revive the platform by introducing certain amendments to the ITP framework and renamed it as the Innovators Growth Platform (IGP).

2.3. IGP is aimed at issuers which are intensive in use of technology, information technology, intellectual property, data analytics, bio-technology or nanotechnology.

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