Sebi chief hits out at merchant bankers

Securities and Exchange Board of India (Sebi) chairman U K Sinha said on Wednesday said the credibility of the investment banking community had taken a hit as retail investors were now wary of investing in public offers. The regulator lashed out at the investment banking fraternity for not acting in the interests of retail investors, pointing out that the bulk of the public offers are currently trading below the issue price.

Read Full Story>>