MUMBAI: Chief economic advisor V Anantha Nageswaran has criticised the trend of IPOs being used as exit routes rather than fundraising tools, stating that this "undermines the spirit of public markets". He called upon banks and financial institutions to become bolder, technologically sharper and more willing to take calculated risks. The CEA also warned against celebrating wrong milestones like market capitalisation and turnover in the derivatives segment as indications of economic progress. He was speaking at a CII summit. At the same conference, Sebi chief Tuhin Kanta Pandey said that doubling the investors base in India, by adding another 100 million (10 crore) over three to five years is one of his priorities. In his speech, the CEA urged the financial sector to guard against co

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