The Securities and Exchange Board of India (SEBI) on Wednesday constituted an 18-member working group to review the regulatory framework governing the Innovators Growth Platform (IGP), with the aim of facilitating access to capital markets for start-ups and innovation-led enterprises, The Hindu BusinessLine reported. SEBI announced the group through Press Release No. 69/2026 dated November 4, 2026, TaxGuru's reproduction of the release shows.

Source: The Hindu BusinessLine

'The start-up and innovation ecosystem has evolved significantly, with the emergence of enterprises in areas such as deep-tech, biotechnology, semiconductors, space and other research-intensive sectors,' the regulator said, noting that such enterprises may have distinct financing requirements and business models, ANI reported.

Source: ANI via Daily Prabhat

18 membersSize of the SEBI working group
PR No. 69/2026SEBI press release announcing the group, dated Nov 4
2018 ICDR RegulationsRules under which the IGP framework sits
No deadline setSEBI has not specified when recommendations are due

What the group will examine

The review will examine the existing eligibility and listing requirements and assess their suitability for research-stage, pre-revenue, intellectual-property-led and technology-intensive enterprises. It will also review investor eligibility and participation, public issue and offer-for-sale requirements, pricing, allocation and minimum subscription norms, besides post-listing disclosure, governance and trading obligations, The Hindu BusinessLine reported.

Source: The Hindu BusinessLine

The group will examine migration requirements from the IGP to the main board and benchmark India's framework against international regulations governing innovative and growth-stage companies. It will recommend amendments, including transitional and implementation measures, for SEBI's consideration, and may engage with start-ups and industry associations while maintaining investor protection, The Hindu BusinessLine reported.

Source: The Hindu BusinessLine

Who is on the panel

The group is co-chaired by Srini Srinivasan, chairman of the Indian Venture and Alternate Capital Association, and Prashanth Prakash, partner at Accel Partners. Other members named by ANI include P M Murali, president of the Association of Biotechnology Led Enterprises; M D Ranganath, chairman of Catamaran Ventures; Umakant Soni, co-founder of Bharat.1AI; Kedar Upadhye, chief financial officer of Biocon Limited; and Pawan Kumar Chandana, co-founder and CEO of Skyroot Aerospace, representing space technology.

Source: ANI via Daily Prabhat

The working group also includes representatives of DPIIT, ICAI, ICSI, CII and the Association of Investment Bankers of India, the chief regulatory officers of the NSE and BSE, and SEBI's Corporation Finance Department vertical head as member secretary, ANI reported. Its recommendations will be submitted to SEBI for consideration; the regulator has not specified a deadline, and the announcement itself does not amend the existing IGP regulations.

Source: ANI via Daily Prabhat