Stock exchanges have intensified vigil on Small and Medium Enterprise (SME) listings by mandating more comprehensive financial disclosures and enhanced monitoring of utilisation of issue proceeds from investment bankers, amid rising instances of dubious practices. Bourses – responsible for vetting initial public offering (IPO) documents and granting approvals to SMEs – have tightened norms in recent weeks with further measures planned for new filings to safeguard investor interests, sources said.
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