The Securities & Exchange Board of India (SEBI) on Thursday gave approval to measures that will enhance retail investors' participation in initial public offers (IPOs).

The new measures aim at enhancing market integrity and investor confidence by assuring that they get allotment of at least a minimum lot. The system will satisfy smaller applicants in the oversubscribed issues.

SEBI said in a statement, "The share allotment system will be modified to ensure that every retail applicant, irrespective of his application size, gets allotted a minimum bid lot."

However, the agency also underlined that the allotment would be subject to availability of shares in aggregate.

SEBI also increased the minimum application size for all investors from Rs 5,000-7,000 to Rs 10,000-15,000.

Steps were also announced to reach out to more investors across the country. SEBI said that the countrywide broker network of stock exchanges at would be made available at more than 1,000 locations, in addition to existing channels, to distribute electronic IPOs (e-IPOs).