Mumbai/IBNS: India’s securities regulator, the Securities and Exchange Board of India (SEBI), is investigating six domestic investment banks over concerns about malpractice in the country’s booming IPO market for small businesses,

Sebi's is investigating six domestic investment bankers that have worked on offerings by small businesses, reported Reuters citing two sources with direct knowledge of the matter.

SEBI is investigating six domestic investment banks for charging high fees on IPOs by small businesses. The fees, as high as 15%, are much higher than the standard 1-3%. SEBI is also looking to curb coordinated activities between banks and investors to ensure fair practices in the booming IPO market.

Gandhi’s remarks follow the findings of a recent SEBI study, which painted a grim picture of the state of retail participation in Futures & Options (F&O) trading.

Senior Congress leader Rahul Gandhi said on Tuesday, September 24, that capital markets regulator Securities and Exchange Board of India (SEBI) must reveal the names of the ‘big players’ who have been making profits at the expense of small retail investors.

Rahul Gandhi demands naming of big players profiteering as SEBI study reveals 91% of individual F&O traders lost money