According to SEBI, the present IPO form is not investor-friendly . It takes a lot of time to understand it. The application forms currently being used for bidding in an IPO and follow-on public offer (FPO) are long and require the investors to fill in some details that can be done away with. Besides, these forms run into 15-20 pages in many cases, although there are only 2-3 pages where particulars need to be filled in by the investors. The rest of the pages contain instructions, information about the company and the issue, and details about bankers, registrars and bidding centres. There are details that are either repetitive or of no use to the investors in taking investment decisions.
Taking all this into account, the whole form has been changed and this will lead to reduction in the size of the form by about one-fourths . The market regulator decided to introduce a new short and simple form for IPO investors. This is expected to increase the individual participation in the stock markets.
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