New Delhi, Jan. 1 -- The number of small businesses going public grew at a slower pace this year as stringent regulatory requirements to curb frenzy and unfavourable macroeconomic conditions dampened issuances.

The number of initial public offerings (IPOs) on the small and medium enterprises (SME) platforms grew 12.5% so far this year compared with a 31% surge in 2024, according to a report from Pantomath Capital Advisors.The Securities and Exchange Board of India's (Sebi's) regulatory curbs significantly contributed to the slowdown by tightening eligibility, governance, and fund-use norms starting late 2024 and into 2025, said Jay Jhaveri, partner at Bhuta Shah and Co. LLP. These changes aimed to curb misuse and speculation, but made li...