New Delhi, June 18 -- The Securities and Exchange Board of India (Sebi) on Wednesday cleared a series of regulatory reforms aimed at improving market efficiency, investor access, and startup participation. Key among them were easing restrictions on employee stock options (Esops) for startup founders after listing and permitting voluntary delisting of public sector undertakings (PSUs).

The board, led by Tuhin Kanta Pandey in his second meeting as Sebi chairperson, also approved changes to allow greater flexibility for alternative investment funds (AIFs), and eased compliance for foreign investors in sovereign debt.

Sebi allowed startup founders to retain employee stock ownership plans (Esops) after their companies go public-a shift from ...