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The Securities and Exchange Board of India (Sebi) on Monday proposed lowering the minimum dilution requirement for mega initial public offerings (IPOs), a move expected to benefit large listings such as Reliance Jio Infocomm and the National Stock Exchange (NSE). Under the proposed norms, companies with a market capitalisation exceeding ₹5 trillion would be allowed to significantly reduce their minimum public offer (MPO). For instance, under the current framework, a company with a market valuation of ₹15 trillion must come out with an MPO worth ₹80,000 crore. This has been proposed to be reduced to ₹ 37,500 crore. Read Article

SEBI is considering easing IPO norms for large companies like NSE and Reliance Jio, potentially allowing them to list with smaller floats. For firms exceeding ₹50,000 crore market cap, the minimum share sale could drop to 8%. The regulator also proposes extending the timeline to meet minimum public shareholding norms, aiming to prevent oversupply and stabilize share prices. Read Article

The Securities and Exchange Board of India (SEBI) on Monday proposed relaxing the minimum public offer requirements for very large companies and also extended the timelines for them to meet the minimum public shareholding (MPS) norms. According to the proposed framework, instead of adhering to a fixed high percentage, large issuers will have the flexibility to start with smaller IPOs and gradually meet shareholding requirements over a longer period. The relaxations will reduce the minimum threshold of shares to be sold to the public and reduce stake dilution pressure for the issuers. Read Article

Securities and Exchange Board of India (SEBI) has proposed to increase the flexibility of minimum public shareholding (MPS) and minimum public offer (MPO) for companies aspiring to get listed aimed at “simplifying fund-raising by issuers in India,” according to a consultation paper released August 18. Read Article

Global Capability Centres (GCCs) in India are evolving and adapting to new geopolitical changes, rather than being negatively impacted by them. Despite global uncertainties and trade tensions, GCCs leased a record 28 million sqft of office space in India in 2024, reinforcing India’s position as a resilient talent hub. These centres are diversifying talent pools, adopting multi-location delivery models, and investing in digital-first operations to reduce dependency on single geographies. According to Prakriti Jaiswal, Partner at JSA Advocates & Solicitors, GCCs are adopting a distributed approach by establishing a presence in multiple regions to reduce concentration risk and leverage global talent markets for specialized skills. This shift enables business continuity during regional disruptions and supports parent organizations more effectively. India’s strong talent pool, cost efficiency, and solid infrastructure backbone will continue to underpin GCC growth, with 60-70 new GCCs likely to be set up by year-end. Read Article

The proposal for a creditor-initiated insolvency resolution process under the Insolvency & Bankruptcy Code (Amendment) Bill, 2025, aims to reduce delays in insolvency cases by allowing lenders to initiate resolution without needing approval from the National Company Law Tribunal (NCLT) unless objected by the corporate debtor. This move has been welcomed by experts as a step towards faster resolution. According to Soumitra Majumdar, partner at JSA Advocates & Solicitors, narrowing the scope of adjudication will significantly reduce timelines, addressing admission delays and value erosion. The process is expected to be completed within 150 days, extendable by 45 days with the committee of creditors’ approval. This amendment is similar to pre-pack concepts in the UK and US, enhancing creditor rights to resolve debt quickly and boost the credit cycle. Read Article

The Indian government has taken a significant step towards improving the country’s insolvency framework with the introduction of the Insolvency and Bankruptcy Code (Amendment) Bill, 2025. The proposed amendments aim to reduce delays, maximize value for stakeholders, and improve governance of insolvency processes. According to Soumitra Majumdar, partner at JSA Advocates & Solicitors, the proposed amendments promise to cure current issues, including treatment of statutory charges, and provide newer solutions like pre-packaged insolvencies. The Bill proposes key changes, including creditor-initiated insolvency resolution, group insolvency, cross-border insolvency, and pre-packaged insolvency for companies. These changes are expected to streamline timelines, enhance ease of doing business, improve creditor recoveries, reduce tribunal caseloads, and attract global investors. Read Article

The Insolvency and Bankruptcy Code (Amendment) Bill proposes a wider look-back period for preferential transactions, counted from the initiation of insolvency instead of its commencement, to capture a broader range of transactions. According to Soumitra Majumdar, partner at JSA Advocates & Solicitors, the amendments are a significant step that will enhance the efficacy of the IBC and make projects bankable by project financiers. The Bill also proposes other changes, including allowing part resolution of assets, ensuring government concessions continue during the resolution process, and enabling the committee of creditors to rectify defects in a resolution plan. These changes aim to prevent corporate debtors from delaying applications to exclude assets and promote efficient resolution of insolvency cases. Read Article

The Insolvency and Bankruptcy Code (IBC) is set to undergo changes that will expand the asset pool for creditors to bankrupt companies, allowing them to access a wider range of valuable assets and potentially claw back money from shady promoter transactions. According to Soumitra Majumdar, partner at JSA Advocates & Solicitors, the proposed amendments provide much-needed clarity on treatment of avoidance transactions and resultant assets, aiming to build certainty of recovery and flexibility in disposal methods of assets. This move is expected to enhance creditor and stakeholder recoveries by efficiently monetizing assets. The changes will also extend the timeline to tag dubious pre-bankruptcy transactions as avoidance transactions that can be reversed by tribunals. Read Article

Law graduates are in high demand, with top law firms like JSA Advocates & Solicitors, Khaitan & Co, and Nishith Desai Associates offering juicy compensation packages ranging from ₹19-25 lakh, a 20-40% increase from last year’s ₹16-18 lakh. JSA Advocates & Solicitors reported a 70% year-on-year increase in fresher hiring, attributing its competitiveness to a bill-sharing policy that offers an upside to pay. The demand is driven by the growing need for expertise in mergers and acquisitions, technology, tax, and artificial intelligence governance. Pre-placement offers (PPOs) are becoming increasingly popular, accounting for nearly 80% of some firms’ fresher intake, ensuring legal proficiency and cultural alignment. Top law firms collectively hire only 400-600 fresh graduates annually, mostly for specialized practices. Read Article

Sebi’s new reforms aim to streamline mega IPOs by reducing the retail investor quota from 35% to 25% and increasing the allocation for qualified institutional buyers (QIBs) from 50% to 60% for large IPOs (over Rs 5,000 crore). Additionally, Sebi proposes to ease mandatory dilution norms, potentially halving the minimum public shareholding requirement from 5% to 2.5% for companies valued over Rs 1 trillion, benefiting large firms like Reliance Jio and NSE. According to Madhurima Mukherjee Saha, Partner at JSA Advocates & Solicitors, Sebi’s track record of amending rules as needed is beneficial, and a case-by-case exemption power for Sebi would aid in future scenarios requiring flexibility, although changes to the Securities Contract Regulation Rules (SCRR) would be required for lower dilution. These reforms are expected to boost institutional participation, reduce operational strain, and provide more flexibility for mega-cap companies to list. Read Article

Artificial intelligence is transforming the traditional hourly billing model in law firms by significantly reducing the time spent on routine legal tasks. According to Venkatesh Raman Prasad, partner at JSA Advocates & Solicitors, while AI tools can cut down time spent on document-heavy tasks, the impact on client bills depends on permissible use under engagement letters and matter complexity. AI has reduced research and documentation time by 20-30% and even more in big cases. Some law firms are adopting “hybrid billing,” a mix of fixed fees for AI-driven work and hourly billing for complex legal advice. With AI’s growing adoption, clients are demanding clarity on AI usage, and law firms are adapting to new billing models, with some experimenting with value-based pricing for research-heavy matters. Read Article