New Delhi, Nov. 13 -- The market regulator on Thursday proposed to simplify IPO disclosures and ease hurdles related to locked-in shares, measures expected to benefit both retail investors and issuers.

The Securities and Exchange Board of India (Sebi) recommended introducing a new 'offer document summary,' a concise and standardized version of the draft red herring prospectus (DRHP) and red herring prospectus (RHP). A Sebi consultation paper said this would give investors a quick, readable overview of the company's business, financials, promoter background, key risks and the purpose of the issue. It will replace the current abridged prospectus, often criticized for being repetitive and hard to navigate.

The recommendation is part of pro...