Stock derivatives now under surveillance norms; FirstCry to debut on Tue

According to grey market players, Unicommerce could list at a 60% premium, while FirstCry at 20%

The market regulator and stock exchanges have expanded the long-term additional surveillance mechanism (ASM) to cover derivative stocks. The changes have been made effective from Monday. The decision was taken in a joint meeting of exchanges with Sebi on August 9. The exchanges have also specified the criteria to shortlist stocks that will fall under LT-ASM.

“Applicable margin shall be 100 per cent in the case of underlying (equity) with effect from August 14, 2024, on all open positions as of August 13, 2024, and new positions created from August 14, 2024, onwards,” said the National Stock Exchange in a notice. The surveillance mechanism is to address risks, and the criteria are based on high price variation, volume changes, etc., to protect investors.

FirstCry, Unicommerce to debut on Tuesday

New-age firms Brainbees Solutions (FirstCry) and Unicommerce eSolutions will make their stock market debut on Tuesday. FirstCry, an omnichannel kids' product retailer, came out with a Rs 4,194 crore IPO that was subscribed 12 times, while Unicommerce, a firm that provides e-commerce operations support, garnered 168 times subscription. Unicommerce’s IPO size, however, was only Rs 277 crore. According to grey market players, Unicommerce could list at a 60 per cent premium, while FirstCry at 20 per cent.