The review puts small-company fundraising and delisting requirements under SEBI’s lens. The report attributes the update to Pandey, but provides only a brief outline of the areas being examined. It does not set out the specific IPO or delisting provisions that could be changed.

One identified area is the cost of market-making in small-company IPOs. SEBI is examining these costs, although the report gives no figures, proposed cost limits or details of how any revised arrangement might work. It also does not state whether the review will result in lower costs or a different set of requirements.

Separately, proposed changes concerning portfolio managers are being examined. The report does not explain those proposals or identify which obligations could be affected. No implementation date, consultation schedule or final decision has been stated for the matters covered in the update.

The key distinction is between a regulatory review and a confirmed rule change. What has been reported is an examination of these issues, rather than a detailed announcement of new requirements. The eventual scope and practical impact therefore remain unclear from the information available.