The Gujarat-based company's IPO is entirely a fresh issue of 1.96 crore equity shares with no offer-for sale (OFS) component, according to the draft papers filed on Wednesday
Following the decision to convert spectrum dues into equity stake in the company, the shareholding of the government will surge to 48.99 per cent in Vi
The increase in shareholding of GoI to 48.99 per cent would in ordinary course trigger an open offer obligation under the Takeover Rules, but the regulator has granted an exemption to the government
Markets regulator Sebi on Thursday launched a 'document number verification system' to ensure verifiability of all documents issued by it.
Sebi warns NSDL for compliance on centralised database
The order came after MRN Chamundi filed a suo motu settlement application under the norms proposed to settle by neither "admitting nor denying the findings of fact and conclusions of law"
New order following SAT directions to recalculate the disgorgement and penalty amounts
These provisions will not be applicable in the case of non-individual clients, accredited investors, and in case of institutional investors seeking the recommendation of a proxy adviser
Market experts suggest that this extension will give NSDL ample time to ready itself for the Initial Public Offering (IPO) and to launch it when market conditions are more favourable
The exchanges have also revised the list of instances that will be considered a technical glitch, excluding those where the broker is not at fault
Sources say diversified shareholding may create challenges in fundraising, will add complexities
The order came after the applicant (Link Intime India) proposed to settle the instant proceedings initiated against it, without "admitting or denying the findings of facts and conclusions of law"
While disposing of Moitra's plea, the bench said once such a representation would be made, the same be considered in accordance with law
"The interim relief granted earlier shall continue until further orders," HC said posting the matter for further hearing on May 7
The IPO is solely a fresh issue with no offer-for-sale (OFS) component, according to the draft red herring prospectus (DRHP) filed on March 30.
The company seeks to raise up to ₹2,000 crore from the public issue, which comprises both a fresh issue as well as an offer for sale of equity shares
Proceeds from the fresh issue to the tune of ₹37.59 crore will be used for the purchase of cash vehicles and fabrication of the secured vehicle
The company may also consider a pre-IPO placement of up to ₹192 crore
As per a circular issued on Friday, any breaches of existing limits will not attract penalties - for now - following concerns raised by industry stakeholders
Underscores steps taken to bolster technology, governance