India's markets regulator SEBI has proposed a phased rollout of new net worth requirements for merchant bankers to enhance risk management in the booming IPO market. Existing bankers managing public offerings must meet a 250 million rupee net worth by January 2027, doubling to 500 million rupees by January 2028. Those solely acting as advisors will have lower requirements. These changes aim to strengthen the financial standing of institutions involved in public issues and capital raising.