The Securities Markets Code, 2025 has been introduced to enhance the regulatory framework of India's securities markets, which are poised to become one of the top five globally. The Code is currently under review by a Parliamentary committee. Key proposals include allowing companies to list without an offering, which would improve governance and liquidity. Additionally, the introduction of a regulated trading platform for unlisted companies is suggested to facilitate market participation and transparency. The article also highlights the need for a review of electronic voting mechanisms to ensure fair representation of shareholder preferences. Furthermore, it proposes consolidating regulatory authority under the Securities and Exchange Board of India (SEBI) to streamline operations, as multiple regulatory interactions currently lead to delays in corporate actions. Recognizing SEBI as the sole regulator for listed companies could further enhance efficiency in the capital markets. Overall, the Code aims to create a forward-looking framework that meets the evolving needs of India's growing capital markets.