Bhubaneswar, May 18 (BNP): The Securities and Exchange Board of India will soon establish a branch office in Bhubaneswar, marking a significant step toward strengthening financial market regulation and investor outreach in eastern India. The announcement was made by SEBI Chairman Tuhin Kanta Pandey while addressing a regional investor awareness programme organized by the Association of Mutual Funds in India in the city.
Pandey said SEBI would initially begin operations from a smaller office in Bhubaneswar, with activities currently managed through Mumbai and Kolkata gradually shifting to the new centre. He added that plans are also underway to establish a permanent office in the state capital in the future.
Highlighting the growing relevance of alternative financing mechanisms, the SEBI Chairman encouraged Odisha to explore the use of municipal bonds to fund urban infrastructure and development projects. He noted that 22 urban local bodies across the country have issued 33 municipal bonds, mobilizing nearly Rs 4,500 crore for development activities. Municipal corporations in states such as Uttar Pradesh, Maharashtra and Madhya Pradesh have already benefited from the model, he said.
Pandey emphasized that Odisha, with its expanding urban landscape, should leverage municipal bonds to meet increasing financial requirements for infrastructure expansion. He also pointed out that the Central government offers grant-based incentives to encourage such bond issuances.
Speaking on the growth of India’s mutual fund industry, Pandey said the sector has expanded significantly from nearly Rs 12 lakh crore in 2015-16 to around Rs 82 lakh crore at present. Odisha’s contribution currently stands at about Rs 71,000 crore, accounting for less than one per cent of the national market.
Observing that Odisha contributes nearly three per cent to India’s economy, he said the state’s participation in the mutual fund ecosystem should also rise proportionately. At the same time, he noted that Odisha remains among the leading states in terms of monthly growth in Systematic Investment Plan (SIP) investments.
He further highlighted the rapid growth of India’s capital market over the past decade, stating that the country’s total market capitalization increased from Rs 95 lakh crore in 2015-16 to Rs 463 lakh crore in 2025-26. During the same period, the number of investors rose from 3.8 crore to 14.5 crore.
Pandey also said India recorded 366 Initial Public Offerings (IPOs) in 2025-26, through which companies raised nearly Rs 1.9 lakh crore, placing the country among global leaders in IPO activity.