Samie Modak
Media biggie to take IPO route?
The bull market is nearly two years old, and The Initial Public Offerings (IPOs) are starting to trickle in faster than they have in years. New entrants include unique companies as well as ones from established segments which haven't seen a new listing in years. Now, there are rumours that a large media conglomerate is contemplating an IPO.
Some operational changes are already in the offing to facilitate the move, said a source. Earlier, there have been rumours of a public issue by this media company. If it comes through, it will be a positive sign. IPOs are finally catching up with the rest of the market.
Sachin Mampatta
KRAs upset with MF utility system
KYC registration agencies (KRAs) are unhappy because of the new MF Utilities system (MFU), which allows for online submission of transactions through a single form and single cheque. The new system lets distributors access the points of service of any one KRA, unlike earlier when forms had to submitted to each KRA separately.
"This means fewer transactions are serviced by each KRA causing a decline in revenues. Also, information about each folio and investor has to be shared among all KRAs," said a source. KRAs were opposed to the idea when the concept of the MFU was first floated. But they have little choice as this is Sebi-mandated, said the source.
Sneha Padiyath