Now everyone is more likely to get an IPO, but how?
The Securities and Exchange Board of India (SEBI) has started the process of filing IPOs in the name of others as the complaints of filing IPOs in the name of others have been increasing recently. Due to which the possibility of IPO will increase.
For the convenience of share investors, CDS & Clearing Limited is going to launch KYC, i.e. system of registering their personal details online.
CDSC has started developing such a system so that share investors do not have to go to various banks and institutions to register KYC. However, after the approval given by the Nepal Securities Board last November, CDSC had started its preparations.
CDSC spokesperson Suresh Neupane said that implementation of centralized or e-KYC would facilitate the service recipients and also prevent the tendency of one person to apply for IPO in the name of many in the stock market illegally. It also helps in centralizing the details of the investors, ‘he said, adding that it is also easier for us to collect the details of the investors.
According to him, while collecting the details of investors from KYC, information will be obtained as to who filled the shares and from where, the tendency of one person to fill IPO in the name of many people will be controlled.
Similarly, CDSC is confident that the money earned illegally will be stopped from being invested in the stock market as the source of income of the investors will be found on the basis of KYC.