The Securities and Exchange Board of India (SEBI) has proposed reforms to pre-IPO lock-in obligations for existing shareholders, excluding large promoters with controlling influence. Under the proposed framework, the enforcement of lock-ins will be automated even when share pledges are released or invoked, addressing delays in IPO roll-outs. So far in 2025, over 300 companies have raised approximately $16.55 billion via primary listings. The regulator also plans mandatory concise summaries of public offer documents to enhance investor understanding, while emphasising that valuation review remains outside its remit.