On December 12, 2018, Ajay Tyagi, Chairman of Securities and Exchange Board of India (SEBI) announced approval on various norms taken in its board meeting in Mumbai. In order to boost the start-up sector, SEBI made the listing process easier and renamed the Institutional Trading Platform as Innovators Growth Platform. The relaxation in norms are mainly aimed for e-commerce, data analytics, biotechnology and nanotechnology firms to raise funds through stock exchange listing.