Retail investors give Mazagon Dock OFS a miss; Sebi imposes fine on R-Sec

Mazagon Dock Shipbuilders' offer for sale (OFS) garnered only 1,127 bids from retail investors on Monday as against 1.95 million on offer. Small investors gave the share sale a miss after the company’s stock crashed 8.73 per cent to ₹2,319 — much below the floor price of ₹2,525.  The OFS on Friday, however, had attracted bids approxi­mately ₹3,700 crore from institutional investors. Through the OFS, the government was looking to 4.83 per cent of its 84.83 per cent stake. 

 

Sebi imposes ₹7 lakh penalty on R-Sec 

  The Securities and Exchange Board of India (Sebi) on Monday imposed a penalty of ₹7 lakh on Reliance Securities for alleged lapses in complying with stock brokers regulation.  These lapses were around periodical settlement of funds and securities, incorrect reporting and short collection of margin, margin trading funding verification, resolution of complaints, among others.  The order alleges that the stock broker funded to its associated or related companies for optimum utilisation of liquidity or surplus. Sebi had conducted inspections for the period between April 2021 to November 2022.