SEBI sets disclosure terms for life-insurer IPOs

The Securities and Exchange Board of India (SEBI) has spelt out disclosure norms that life insurance companies would have to follow if they are to sell shares to the public through initial public offers. SEBI also tightened the guidelines on the preferential allotment by the companies. The board decided to increase the maximum application size for retail individual investors to Rs 2 lakh from Rs 1 lakh across all issues.