SEBI Reconstitutes Its Primary Market Advisory Committee
SEBI building exterior. (Photographer: Sajeet Manghat/ BloombergQuint)

SEBI Reconstitutes Its Primary Market Advisory Committee


Capital markets regulator Securities and Exchange Board of India has reconstituted its Primary Market Advisory Committee that advises it on policy framework, development of initial public offerings and other such segments.

The 23-member SEBI PMAC is chaired by TV Mohandas Pai, chairman of the Manipal Global Education Services. The panel includes:

  • Ashish Chuahan, managing director and chief executive officer of BSE Ltd.
  • Keki Mistry, vice chairman and chief executive officer of HDFC Ltd.
  • Vikram Limaye, managing director and chief executive officer of NSE
  • Dolphy D’souza, partner and national leader (IFRS Services) at EY
  • Prithvi Haldea, founder and chairman of Prime Database Pvt. Ltd.
  • Sunil Sanghai, founder and chief executive officer of NovaDhruva Capital Pvt. Ltd.

The SEBI PMAC also has representatives from the capital markets regulators, the banking regulator and finance and corporate affairs ministries. These include:

  • Ananta Barua, whole-time member of SEBI’s board of directors
  • Amarjeet Singh, executive director of SEBI
  • Jeevan Sonparote, chief general manager of SEBI
  • SK Kar, chief general manager of Reserve Bank of India

Other members of the committee include:

  • Abhilash Nair, associate professor of IIM Kozhikode
  • Ramesh Srinivasan, MD and CEO of Kotak Investment Banking
  • Prafulla Chhajed, president of Institute of Chartered Accountants of India
  • Ranjeet Pandey, president of Institute of Company Secretaries of India

The SEBI PMAC is significant as it advises the markets regulator on policy framework related to the primary markets, as well as on matters required to be taken up for changes in legal framework to introduce simplification and transparency in systems and procedures in the primary market.

The PMAC has been mandated to advise SEBI on matters relating to regulation of intermediaries for ensuring investor protection in the primary market.

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