Regulatory Compliance

SEBI & Capital Markets

SEBI regulates everything from your SME IPO to how your listed company handles insider trading policy — and the compliance bar keeps rising with every circular

Capital Raising & Listing

9 Services

SME IPO Advisory (End to End)

Take your SME public on the BSE/NSE Emerge platform with end-to-end IPO advisory, from eligibility to listing day.

AIF Registration (Cat I/II/III)

Register your Alternative Investment Fund with SEBI across Category I, II, or III fund structures.

Rights Issue (Listed Company)

Execute a SEBI-compliant rights issue for your listed company, from board approval to allotment.

Buyback of Shares (Listed)

Execute a SEBI-compliant share buyback for your listed company through the tender or open market route.

Delisting Advisory

Navigate voluntary delisting from stock exchanges through SEBI's reverse book-building process.

Social Stock Exchange License

Register your non-profit or social enterprise on India's Social Stock Exchange to access impact capital.

Main Board IPO Readiness

Readiness and secretarial support for a main board IPO, working alongside the company's merchant banker.

SME to Main Board Migration

Eligibility check and secretarial support for moving from the SME platform to the main board.

Preferential Issue & QIP

Preferential allotments and QIPs by listed companies: pricing, approvals, in-principle and listing steps.

Market Intermediary Registrations

6 Services

RIA Registration

Get your SEBI Registered Investment Advisor licence to legally offer investment advice to clients.

PMS License

Obtain your SEBI Portfolio Management Services licence to manage discretionary or non-discretionary client portfolios.

Stock Broker License

Secure SEBI stock broker registration along with NSE/BSE trading membership for your brokerage.

FPI Registration

Register as a Foreign Portfolio Investor with SEBI to invest in Indian securities markets.

SEBI AMFI Registration

Register as a mutual fund distributor with AMFI and obtain your ARN to start earning commissions.

Research Analyst Registration

Get SEBI Research Analyst registration to legally publish and distribute investment research.

Compliance, Governance & Resolution

5 Services

SEBI Listing Compliance

Meet your listed company's ongoing SEBI LODR disclosure, governance, and reporting obligations.

Insider Trading Compliance

Set up SEBI-compliant insider trading policies, UPSI controls, and trading window procedures.

Merchant Banking Valuation

Get SEBI-registered merchant banker valuations for M&A, ESOP, or other regulatory purposes.

SEBI Compounding & Settlement

Resolve SEBI violations through the compounding or consent settlement route and avoid prolonged proceedings.

SEBI Takeover Code (SAST) Compliance

Disclosures and open offer compliance under the SEBI Takeover Regulations, 2011.

Understanding SEBI regulation and capital market compliance

What this section covers

The Securities and Exchange Board of India (SEBI) regulates the securities market under the Securities and Exchange Board of India Act, 1992, alongside the Securities Contracts (Regulation) Act, 1956 and the Depositories Act, 1996. SEBI’s work falls into two broad areas that this section covers.

The first is capital raising and listed company conduct. The SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 govern main board and SME IPOs, rights issues, preferential issues and qualified institutions placements, and the framework for the Social Stock Exchange. Once listed, companies follow the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and the SEBI (Prohibition of Insider Trading) Regulations, 2015. Acquisitions of listed companies follow the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, and exits follow separate regulations on buy-back and delisting.

The second is registration of market intermediaries. Stock brokers, portfolio managers, investment advisers, research analysts, alternative investment funds, foreign portfolio investors and merchant bankers each need SEBI registration under their own regulations; stock brokers are now governed by the SEBI (Stock Brokers) Regulations, 2026. Mutual fund distributors register with AMFI and obtain an ARN. Registered entities then carry ongoing obligations such as net worth, qualified staff, reporting and audits.

Who needs these services

  • Unlisted companies considering a public issue on the SME platform or the main board.
  • Listed companies raising further capital, returning cash to shareholders, managing disclosures and insider trading controls, or moving from the SME platform to the main board.
  • Acquirers and promoters whose shareholding crosses takeover thresholds, or who wish to delist.
  • Financial professionals and firms who want to advise, manage money, publish research, run a fund or act as a broker.
  • Foreign investors wanting to invest in Indian listed securities as FPIs.
  • Entities facing SEBI proceedings who wish to explore settlement or compounding.

How to choose between the services

  • If you are unlisted and meet the eligibility norms, compare SME IPO and mainboard IPO; the SME route has lighter entry norms but different investor and migration rules. A not-for-profit or for-profit social enterprise can look at the Social Stock Exchange.
  • If you are already listed and need capital, the choice is usually between a rights issue for existing shareholders and a preferential issue or QIP for selected or institutional investors. For day-to-day obligations, see listing compliance and insider trading compliance. SME-listed companies that have grown can consider SME to mainboard migration.
  • If control or large holdings are changing, the SAST (takeover code) service applies; acquiring 25 per cent or more of voting rights generally triggers an open offer. To reduce share capital, see buy-back (listed); to exit the exchange, delisting.
  • If you want to offer financial services, match the activity to the licence: RIA registration for fee-based advice, research analyst for research reports, PMS licence for managing individual portfolios, AIF registration for pooled funds, stock broker licence for trading access, AMFI registration for mutual fund distribution, and FPI registration for foreign portfolio investors. Merchant banking valuation covers valuations that must be issued by a SEBI-registered merchant banker.
  • If a violation has already occurred, SEBI compounding and settlement options should be assessed early.

Offer documents are filed through SEBI-registered merchant bankers, and SEBI and the stock exchanges decide on every application. Expertvuw assists with documentation and coordination.

Frequently asked questions

What is the difference between an SME IPO and a main board IPO?

Both are governed by the SEBI (ICDR) Regulations, 2018, but an SME IPO lists on the SME platform of a stock exchange with separate eligibility conditions, disclosure requirements and minimum application sizes. Main board issues have stricter eligibility and are reviewed by SEBI in more detail. Eligibility norms are revised from time to time, so check the current regulations and exchange criteria.

When does the SEBI takeover code require an open offer?

Under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, an acquirer generally has to make an open offer on acquiring 25 per cent or more of the voting rights in a listed company, on certain creeping acquisitions above that level, or on acquiring control. Exemptions exist for specific transactions, and disclosure obligations also apply at lower thresholds.

Do I need SEBI registration to give investment advice?

Generally yes. A person who gives investment advice for consideration usually needs registration as an investment adviser under the SEBI (Investment Advisers) Regulations, 2013, while those issuing research reports or recommendations need registration as research analysts. The regulations set qualification, certification and conduct requirements. Some limited exemptions apply, so the specific activity should be reviewed.

What is the minimum investment in a portfolio management service?

Under the SEBI (Portfolio Managers) Regulations, 2020, the minimum investment by a client in a portfolio management service is generally ₹50 lakh, subject to exceptions for accredited investors and certain categories. The portfolio manager itself must meet net worth, key personnel and reporting requirements. These limits are revised by SEBI from time to time.