Securities and Exchange Board of India has raised the limit for retail investors in initial public offers of shares of companies to Rs. 200,000 from Rs. 100,000 earlier, Chairman C.B. Bhave said after a board meeting on Monday.
The board has decided to double retail limit as it was fixed long back and also taking into consideration the inflation over the period, he said.
This limit willnot be effective for Power grid IPO which is scheduled to open on November 9th 2010.
The upcoming share sale by Power Grid Corporation may not benefit from the recent doubling of the limit for retail investors to 2 lakh as the stock market watchdog is yet to notify the change announced last week.