Sebi extends deadline demat a/c nomination; SBI MF promotes DP Singh

The Securities and Exchange Board of India (Sebi) on Tuesday extended the deadline for making nominations by demat account holders to December 31.

In March, the regulator had extended the deadline from March 31 to September 30. Further, Sebi has also made the submission of ‘choice of nomination’ for trading accounts as voluntary instead of mandatory based on the representations received from exchanges and brokers’ associations.

Further, the market regulator has also extended the last date for physical security holders to submit PAN, nomination, contact details, bank account details, and specimen signature for their corresponding folio numbers to December 31.

SBI MF promotes DP Singh as joint CEO

SBI Mutual Fund (SBI MF) has elevated DP Singh to the post of deputy managing director and joint chief executive officer. He was earlier the deputy managing director and chief business officer at the fund house. In his new role, he will continue to oversee all business verticals and segments of the organisation, SBI MF said in a statement, adding that in his 25-year stint at the fund house, Singh has “led the company’s consistent growth in several parameters, including assets under management (AUM), market share and profits, while being instrumental in expanding the fund house's reach in both urban and rural areas".

JSW Infra IPO subscribed 2.1x on day 2

The IPO of JSW Infrastructure was subscribed 2.1 times on Tuesday. The retail and high networth individual portions of the IPO were already subscribed nearly four times each.

The company’s Rs 2,800-crore IPO, the second-largest for calendar 2023, closes on Wednesday. The company already allotted shares worth Rs 1,260 crore to 65 anchor investors at Rs 119 apiece.

At that price, JSW Infra is valued at Rs 24,990 crore. JSW Infra is the second largest port operator in terms of cargo handling capacity. Meanwhile, Manoj Vaibhav Gems N Jewellers’ Rs 270-crore IPO, which closed on Tuesday, managed to garner just 2.25 times subscription.

The 640-crore IPO of Updater Services, which also closes on Wednesday, has so far garnered just 16 per cent subscription.  

Fincare Small Finance Bank, Western Carriers get Sebi nod

Fincare Small Finance Bank Ltd and logistics company Western Carriers (India) Ltd have received capital markets regulator Securities and Exchange Board of India, Sebi's approval to raise funds through initial public offerings (IPOs). The two firms, which filed preliminary IPO papers with the Sebi between May and June, obtained the regulator's observation letters during September 15-22, an update with the watchdog showed on Tuesday.

-PTI