New Delhi, March 13 -- Market regulator Securities and Exchange Board of India (Sebi) has notified new norms for initial public offerings (IPOs) of small and medium enterprises (SMEs) to protect investor interests. Mint takes a look at this excitable segment of the equity market:

Sebi last week notified amendments to tighten rules for initial share sales by SMEs. This follows the Sebi board approving these changes at its meeting in December. As per the notified norms, only those SMEs can raise funds through IPOs that have a minimum Ebitda (earnings before interest, taxes, depreciation and amortization) of Rs.1 crore for at least two of the previous three financial years.

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