'MCA should monitor end use of IPO funds with Sebi'

The end use of money raised by companies through initial public offerings (IPOs) should be monitored by the Corporate Affairs Ministry in coordination with market regulator Sebi, a parliamentary panel has said, reports PTI from New Delhi.

The Standing Committee on Finance, which scanned the provisions of the Companies Bill 2009, has suggested that the end use of IPO funds be monitored by the Registrar of Companies (RoCs), along with the Securities and Exchanges Board of India (Sebi).