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<h1>SEBI Updates IPO Regulations: Pre-Filing Drafts Required, New Disclosure Rules for KPIs and Pricing Effective Nov 21, 2022.</h1> The Securities and Exchange Board of India (SEBI) has amended the Issue of Capital and Disclosure Requirements Regulations, 2018, effective from November 21, 2022. Key changes include the introduction of pre-filing draft offer documents for initial public offerings on the Main Board, requiring issuers to file these documents with SEBI and stock exchanges. The amendments also establish procedures for public announcements, interaction with qualified institutional buyers, and monitoring of issue proceeds by credit rating agencies. Additionally, the amendments require detailed disclosures of Key Performance Indicators (KPIs) and issue prices in offer documents, with specific guidelines for their presentation and certification.