BUSINESS

Norms may be tightened for QIBs

NEW DELHI: The Securities and Exchange Board of India is likely to tighten norms for big investors like domestic and foreign financial institutions and mutual funds to make the investment process in public offers more transparent. While there is no move to change the allocation pattern of retail investors and Qualified Institutional Buyers (QIBs), SEBI wants to ensure that merchant bankers do not misuse the discretionary powers of allocating shares to big investors.