Ujjivan, Thyrocare IPOs command a premium in grey market

The success of small finance bank Equitas Holdings' impressive debut on the bourses seems to have rubbed off on the Ujjivan Financial Services' initial public offering (IPO). Ujjivan, which is coming out with a Rs 882-crore IPO, is trading at a premium of Rs 40-45 a share in the grey market. Similarly, diagnostics company Thyrocare, which plans to raise Rs 480 crore, is commanding a bigger premium of Rs 220-225 per share in the grey market. Ujjivan and Thyrocare have set a price band of Rs 207 to Rs 210 and Rs 420 to Rs 446, respectively.

60 Motilal Oswal distributors chosen to attend Berkshire meet

Motilal Oswal Mutual Fund has arranged a trip for 60 distributors to attend the annual shareholders' meet of Berkshire Hathaway this year. The objective, according to the fund house, is to help distributors get acquainted with the investment principles of legendary investor Warren Buffett. Last year, 30 distributors were sent to the meet. Given the latest guidelines of the Securities and Exchange Board of India (Sebi), which says expenses on distributors in the form of gifts, trips, event sponsorships and rewards need to be disclosed in the half-yearly consolidated account statement that is sent to investors, the expense for the educational trip will also be deemed in this category.

Meetings with Sebi don't yield results, feel brokers

The Securities and Exchange Board of India (Sebi) has met brokers and their associations several times in the past few years, to take their views on increasing the volumes and investor participation in the market. But, sources say, these have not led to any positive results that would help deepen the market. "In the past, similar meetings have been held and a number of suggestions given. But, most of these have not been implemented," says a leading broker. Many feel much like mutual fund distributors, brokers, too, do not have a platform to express their views.