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Markets regulator Sebi on Friday streamlined inspection of market intermediaries by mandating joint inspections by stock exchanges and depositories and reducing its inspection target for FY27 to about one-third of the previous year's level. The revamped inspection framework, which follows consultations with Market Infrastructure Institutions (MIIs) and the Supervisory Body for Investment Advisers (IAs) and Research Analysts (RAs), will be implemented from the financial year 2026-27. As part of the changes, Sebi has rationalised its inspection target for FY27 to around one-third of the inspections conducted in the previous financial year, taking into account the regular inspections already carried out by stock exchanges and depositories. "Considering the regular inspections of stock brokers, DPs, IAs and RAs done by stock exchanges and depositories, the targeted number of inspections to be carried out by Sebi in the Financial Year 2026-27 has been rationalised to approximately ...
Markets regulator Sebi on Thursday proposed allowing Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) to pick minority stakes in under-construction assets, which would help them to secure long-term asset pipeline. In its consultation paper, Sebi proposed that REITs and InvITs be permitted to invest in under-construction projects without having a controlling interest, within the existing limits prescribed for exposure to such assets. "Investing a minority stake in under-construction assets would enable REITs and InvITs to build a pipeline of stable, revenue-generating assets while minimising exposure to construction-related risks,"Sebi said. Additionally, Sebi proposed several measures to facilitate ease of doing business for REITs and InvITs, including reducing the cooling-off period for offer for sale (OFS) by privately listed InvITs, recognising remote common infrastructure as real estate for REITs, and clarifying the computation of the threshold
Markets regulator Sebi on Tuesday proposed allowing issuance of Depository Receipts (DRs) against units of Real Estate Investment Trusts and publicly listed Infrastructure Investment Trusts to widen investment options for overseas investors and attract foreign capital. Depository Receipts are foreign currency-denominated instruments issued by a foreign depository in a permissible jurisdiction against securities deposited with a domestic custodian in India. Under the proposed framework, Real Estate Investment Trusts (REITs) and publicly listed Infrastructure Investment Trusts (InvITs) would be permitted to issue DRs in permissible overseas jurisdictions, enabling foreign investors to trade such instruments in foreign currency on permitted international exchanges. However, Sebi has proposed keeping privately listed InvITs outside the ambit of the framework. In its consultation paper, Sebi said a framework for issuance of DRs on units of REITs and InvITs will enable them to issue DRs
Prasanta Mahapatra has taken charge as Executive Director of markets regulator Sebi and will handle the Corporation Finance Investigation Department and the Recovery and Refund Department. Before his elevation as Executive Director, Mahapatra was the Chief General Manager at the Securities and Exchange Board of India (Sebi), the regulator said in a statement on Monday. Mahapatra, who joined Sebi in April 1999, has handled diverse responsibilities across several departments during his over 27-year stint with the regulator. He has served in the Market Regulation Department, Investigation Department, Enquiries and Adjudication Department, Market Intermediaries Regulation and Supervision Department, Corporation Finance Department and Investment Management Department. He has also served at Sebi's Eastern Regional Office in Kolkata. Besides, Mahapatra has been a member of various domestic policy-making and advisory committees dealing with areas of mutual interest and cooperation with ..
Battery Smart, a battery-swapping network for electric two- and three-wheelers, is likely to file draft papers with Sebi in September or October as it looks to tap the capital markets through an initial public offering (IPO), people familiar with the matter said. The company has appointed SBI Capital Markets as the lead merchant banker for the proposed public issue, they said. "The filing of draft papers with Sebi is likely to take place around September or October, using FY26 and June quarter financials, which will remain valid till December 2026," one of the people cited above said. According to the people familiar with the development, Battery Smart is targeting annual growth of 70-80 per cent over the next three to five years, driven by deeper penetration in existing cities and expansion into new markets. Backed by investors, including Tiger Global, Blume Ventures, LeapFrog Investments, and Ecosystem Integrity Fund, the company achieved operational break-even in FY26 while ...
Real estate developer Assetz Ltd has filed preliminary papers with markets regulator Sebi using the confidential route to raise around Rs 1,200 crore through an initial public offering (IPO). The proposed listing would mark the public-market debut of one of Bengaluru's fastest-growing residential developers, which counts Singapore-based investment fund AGP Partners as a key shareholder. In a public notice on Saturday, the company said it has filed "the pre-filed draft red herring prospectus with Sebi and the stock exchanges... in relation to the proposed initial public offering of its equity shares on the main-board of the stock exchanges". According to people familiar with the matter, the IPO size is pegged around Rs 1,200 crore. JM Financial, BofA Securities India, and Motilal Oswal Investment Advisors are the book-running lead managers to the proposed issue, they added. Under the confidential pre-filing route, companies are allowed to keep their draft offer documents out of the