For better price discovery of initial public offerings (IPOs) and re-listing of shares, the Securities and Exchange Board of India (Sebi) has proposed reviewing the price discovery mechanism through the pre-open call auction session. The proposals released on Thursday follows comments from market players about artificially suppressed price discovery for re-listings and volatility on listing days. Public comments on the recommendations are to be submitted by June 11. These changes, if implemented, could enable automatic and faster expansion of price bands in case of high investor demand and reduces the need for stock exchange’s manual intervention. Sebi made a series of recommendations followings its consultation with the Secondary Market Advisory Committee on matters such as base price, dummy price, and price discovery. Meanwhile, no changes are proposed for the issue price of a scrip.