Securities and Exchange Board of India chairman Tuhin Kanta Pandey is not worried about private equity firms making partial or full exit from their investments in companies through initial public offerings (IPOs). In an interview with the Economic Times , Pandey said the early-stage risk in new-age companies is “high” and not every investment provides high returns.

The gains in some of the investments offset the losses in others and there is “no contradiction” between the purpose of the broader primary market and PE firms making exits via IPOs, Pandey told ET .

The Sebi chief further said the capital markets regulator is aware about the high valuations of certain new-age companies, but investors can choose to reject, criticise or not participate in the issue. However, the regulator’s

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