SEBI forms working group to review Innovators Growth Platform framework

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The working group will review listing eligibility, investor participation, pricing and disclosure norms to improve capital market access for deep-tech and other innovation-led firms

By BL Mumbai Bureau

Updated - November 04, 2026 at 10:15 PM.

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 | Photo Credit: HEMANSHI KAMANI

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 to facilitate access to capital markets for start-ups and innovation-led enterprises.

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.

“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.

The panel 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 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.

The working group may also engage with start-ups and industry associations to understand sector-specific requirements and identify measures to improve access to the platform while maintaining investor protection.

The group will be co-chaired by Srini Srinivasan, chairman of the Indian Venture and Alternate Capital Association, and Prashanth Prakash, partner at Accel Partners. Other members include representatives from venture capital, private equity, biotechnology and innovation-led enterprises, alongside officials from industry bodies, stock exchanges and SEBI.

Published on November 4, 2026

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