Upcoming IPO: SEBI Clears Much Awaited LG Electronics India IPO

The capital market regulator, the Securities and Exchange Board of India (SEBI) has approved the highly anticipated LG Electronics India IPO. This approval, granted through an official observation letter, serves as a regulatory green light for one of the most awaited public offerings. This approval happens to be a significant action by the newly appointed SEBI Chairman Tuhin Kanta Pandey’. However, beyond the IPO, Pandey’s initial days in charge suggest a change in SEBI’s approach—from fast-paced execution to a more measured and balanced strategy.

Significant Steps by Tuhin Kanta Pandey

Pandey, who took over on March 1, brought a different approach. In his first week, he met with senior officials, including all whole-time members and executive directors, as well as junior staff and middle management—not only to discuss policy but also to ease concerns. His message? Work without undue stress, embrace a ‘healing period,’ and focus on trust, transparency, teamwork, and technology.

The Chairman’s approval for the LG IPO was required due to its large size. Any offer above ₹10,000 crore requires the Chairman’s sign-off, while smaller IPOs are approved at different authority levels as per the SEBI (Delegation of Statutory and Financial Powers) Order, 2019. During her tenure, Buch had approved major IPOs, including Hyundai Motor India (₹ 25,000 crore) and Swiggy (₹ 12,000 crore).

Process Transformation by Madhabi Puri

His predecessor, Madhabi Puri Buch, drove rapid reforms during her tenure, implementing sweeping changes, strengthening compliance, and pushing SEBI towards private-sector efficiency with an emphasis on speed and agility.

However, Buch’s fast-paced reforms weren’t universally welcomed—reports emerged of SEBI employees struggling under immense pressure, with over 500 staff members expressing concerns about a “stressful and toxic” work environment. There were also issues raised about how Key Result Areas were defined and evaluated.

Conclusion

SEBI’s new head is indicating a shift from prioritizing speed to fostering stability, ensuring both the markets and the regulator move forward without burnout, according to an insider.

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