The Securities and Exchange Board of India may pilot a pre-IPO trading platform where companies can trade with required disclosures, Chairman Tuhin Kanta Pandey said on Thursday.

“The IPO market is booming, but pre-listing information is often insufficient for investors,” Pandey said at the FICCI Capital Market Conference 2025.

The pilot project will be a regulated platform. It will identify and remove unnecessary processes and pain points in fundraising, disclosures, and investor onboarding, he said.

It will explore emerging areas, products, and asset classes to boost both capital demand and supply.

Former SEBI Chairperson Madhabi Puri Buch had hinted at such a pre-listing trading a few weeks before the end of her tenure in March.

Further addressing market concerns over the growing dominance of weekly derivative expiries, the SEBI chairperson said the regulator is examining the issue of contract durations. He clarified that any decision will be taken through a consultative process with stakeholders, with the larger objective of ensuring market stability and deepening India’s cash equity markets.

Talking about recent regulatory reforms, the chairperson pointed to the shortening of IPO timelines, the introduction of safeguards such as blocking of funds and direct payouts, and digital processes that reduce cost and time for all stakeholders.

On the technology front, SEBI has rolled out a verified payment channel – the UPI VPA subsystem for SEBI-registered intermediaries – to shield investors and the market from cyber frauds. The regulator has also issued necessary guidelines for faster payouts in IPOs from 2025, a move aimed at both first-time investors and institutions managing risk.

The SEBI chief emphasised that the regulator’s innovative approach has already helped create new asset classes, expand the investor base, and open new methods of raising capital. Portfolio Management Services (PMS) and other alternative structures have now become integral to India’s financial markets.