SMEs floating IPOs will face more stricter norms including a 20% cap on OFS and promoter lock-in periods

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Stricter SME IPO norms: Companies need Rs 1 crore EBITDA in 2 of 3 years to qualify.
OFS capped at 20%: Limits on promoter selling to ensure growth-focused fundraising.
Higher lock-in & application size: Reduces speculative trading, promotes long-term commitment.
Tighter fund usage & transparency: Loan repayments to promoters banned; DRHP open for 21 days.

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