Indian Regulator Plans Larger Quota for Institutions in Big IPOs

India’s securities regulator has proposed changes to large initial public offerings, suggesting more shares for institutional buyers and fewer for retail investors amid a surge in new listings.

In a consultation paper released late Thursday, the Securities and Exchange Board of India recommended that for IPOs exceeding 50 billion rupees ($573 million), the allocation for institutions be raised gradually from 50% to 60%, while the retail investor quota be cut to 25% from 35% at present.