# Sebi Forms Working Group to Review Mainboard IPO Rules

> Sebi launches working group to overhaul mainboard IPO and FPO regulations.
- Title: Sebi Forms Working Group to Review Mainboard IPO Rules · mint
- Summary: Sebi launches working group to overhaul mainboard IPO and FPO regulations. Sebi will review mainboard IPO and FPO rules to improve listing eligibility…
- Keywords: sebi, mainboard, ipo, fpo, icdr, sebi regulations, stock market, money, business, Forms, Working, Group
- Source: mint — https://livemint.com/market/stock-market-news/sebi-working-group-review-mainboard-ipos-fpos-norms-profitability-valuations-11792392114933.html
- Author: Apoorva Ajith
- Published: 2026-10-19T08:04:23+00:00
- Read time: 1 min
- Topics: sebi, mainboard, ipo, fpo, icdr, sebi regulations, stock market, money, business
## Sebi to form working group
Sebi plans to set up a sub-group under its Primary Markets Advisory Committee to review mainboard IPO and FPO regulations.
## Working group review scope
The group will examine chapter ii, iia, and iv of the Sebi ICDR Regulations, 2018, focusing on listing eligibility, pricing, and lock-in requirements.
## ICDR regulations background
The ICDR regulations, introduced in 2018 to replace the 2009 framework, set conditions for public capital raising through IPOs and FPOs.
## Profitability thresholds
Sebi may change listing thresholds including the number of years a company must be profitable and valuation safeguards.
## SME IPO review
Sebi is separately reviewing SME IPO rules, including tighter listing eligibility and financial reporting requirements.
## SME platform expansion
As of 31 July, 1,496 entities listed on SME platforms, with cumulative fundraising of ₹ 40,222 crore.
## Regulatory changes proposed
Sebi proposed raising the minimum average operating profit requirement for SME IPOs to ₹ 3 crore annually over three years.
## Timeline for review
Sebi sent an email to PMAC members on 12 October, inviting nominations until 13 October for the working group.
## Key takeaway

Sebi will review mainboard IPO and FPO rules to improve listing eligibility, financial reporting, and profitability thresholds.