The Securities and Exchange Board of India (SEBI) has announced significant exemptions for smaller brokers from technical glitch prevention regulations, creating a tiered compliance framework based on client base size and glitch impact.

Scope of New Exemptions

The regulatory framework introduces a clear threshold for compliance requirements, distinguishing between larger and smaller brokerage operations based on their client base.

Technical Glitch Classification

SEBI has refined the definition of reportable technical glitches by excluding certain categories from mandatory compliance requirements. The new framework specifically excludes technical glitches that do not affect trading operations, allowing brokers to focus resources on issues that directly impact market participants.

Impact on Brokerage Industry

This regulatory adjustment creates a more proportionate compliance burden across the brokerage sector. Smaller brokers with client bases below the 10,000 threshold will benefit from reduced regulatory overhead, while larger brokers will continue to maintain stringent technical standards.

The exemption framework recognizes the varying operational scales and resource capabilities across different brokerage firms, potentially reducing compliance costs for smaller market participants while maintaining system integrity standards for larger operations.

The Securities and Exchange Board of India (SEBI) has approved Initial Public Offering (IPO) plans for five companies, issuing observations on their draft documents between December 29 and January 9. The approved companies include Indo-MIM, Onemi Technology Solutions (operating under Kissht brand), Alcobrew Distilleries India, Astha Spintex, and Kusumgar. The issuance of observations allows these companies to launch their IPOs within the next one year.

SEBI Approval Timeline

SEBI issued observations on the draft documents across different dates, with the regulator providing its approval status update on January 9. The timeline shows a concentrated approval period spanning approximately two weeks.

Major IPO Details

Kissht (Onemi Technology Solutions)

The Temasek Holdings-backed fintech firm filed preliminary papers in August 2025 to raise funds for augmenting the capital base of its subsidiary Si Creva, a middle-layer NBFC. The Mumbai-based company's IPO structure includes both fresh issue and offer-for-sale components.

Indo-MIM

The Bengaluru-based company, recognized as the world's largest player in metal injection molding (MIM), submitted its draft papers in September 2025. The company's IPO includes a significant pre-IPO placement component within its fresh issue structure.

Alcobrew Distilleries India

The Gurugram-based producer of White & Blue and Golfer's Shot whisky brands approached SEBI in September 2025. The company's IPO structure includes both fresh capital raising and promoter stake dilution.

Additional Approved IPOs

Astha Spintex

The Gujarat-based cotton yarns and bales manufacturer filed IPO papers in September 2025, planning a pure fresh issue without any offer-for-sale component. The company aims to raise ₹160.00 crores through the initial share sale.

Kusumgar

The Mumbai-based engineered fabrics maker submitted its Draft Red Herring Prospectus in September 2025. Unlike other approved IPOs, Kusumgar's offering comprises entirely of offer-for-sale by promoters, with no fresh issue component, targeting to raise up to ₹650.00 crores.

Market Impact

These five SEBI approvals represent a diverse range of sectors including fintech, manufacturing, liquor production, textiles, and engineered fabrics. The collective fundraising potential exceeds ₹3,000 crores, indicating significant capital market activity ahead. All companies filed their draft documents in the August-September 2025 timeframe, demonstrating coordinated market preparation during that period.