SEBI proposes an overhaul of IPO norms, including reduced retail share, extended anchor lock-ins, and increased institutional allocation.

• Retail investor quota may be trimmed amid rising participation but limited small investor subscriptions in large IPOs.
• The anchor investor lock-in period could extend to curb speculative exits and match global standards.
• More anchor investors allowed in large IPOs to attract FPIs, with higher minimum allotments proposed.