Sebi removes NSDL IPO from abeyance; Oil drops close to July low

Sebi removes NSDL IPO from abeyance

The Securities and Exchange Board of India (Sebi) has removed the National Securities Depository’s (NSDL’s) draft red herring prospectus (DRHP) from abeyance. The move could pave way for its Rs 3,000-crore initial public offering (IPO). The markets regulator, however, is yet to provide its final observation on the DRHP. NSDL had filed its IPO document in July and Sebi had placed the DRHP in abeyance in August. Investment bankers said the regulator puts any IPO on hold if there is pending regulatory investigation or if information sought from the company or other regulatory bodies is not received on time. 

Stanley Lifestyles, Inox India get Sebi nod for IPOs

Cryogenic equipment maker Inox India and premium furniture brand Stanley Lifestyles have received final observations from the Securities and Exchange Board of India (Sebi) to launch their initial public offerings (IPOs). Inox India’s and Stanley’s IPO comprise secondary share sale of 22.11 million and 9.13 million shares, respectively. Stanley also plans to raise Rs 200 crore in fresh capital through the IPO. As per the offer document, Stanley plans to use the IPO proceeds for setting up new stores and renovating existing stores.

Oil drops close to July low on doubts over Opec+ cuts

Global benchmark Brent fell below $78 a barrel, not far off its July low, despite Saudi Arabia saying Opec+ supply cuts can go beyond March if necessary. Brent crude futures edged down by 67 cents, or 0.9 per cent, to $77.36 a barrel by 1301 GMT. US West Texas Intermediate crude futures lost 64 cents, or 0.9 per cent, to $72.40. (Reuters)