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<h1>SEBI Circular Requires IPOs Over Rs. 10 Crore to Use Nationwide Electronic Broker Network to Simplify and Reduce Costs.</h1> The circular issued by SEBI mandates that companies issuing IPOs of Rs. 10 crore and above must do so electronically through a nationwide broker network. This initiative aims to simplify the IPO process, reduce costs, and broaden access to retail investors. Stock Exchanges are required to facilitate the submission of application forms via brokers, who will upload bids onto the exchange platform. The circular outlines a phased implementation plan to expand broker centers, specifies the responsibilities of brokers, and details the process for handling applications. This mechanism will apply to offer documents filed from January 1, 2013.