Explore Business Standard
Securities
JSW Energy's board on Friday approved the proposal of raising up to Rs 10,000 crore in one or more tranches, through issuance of securities on private offerings, qualified institutions placements, or any other method or combination thereof. The board in its meeting on Friday also approved the proposal of issuance of 95,23,809 equity shares, on a preferential issue basis, to JTPM Metal Traders Ltd, a member of the Promoter Group (JTPM) at an issue price of Rs 525 per equity share, including a premium of Rs 515 per equity share, a regulatory filing said. According to the filing, the board has also approved issuance of 4,76,19,047 warrants, on a preferential issue basis, to JTPM, with each warrant carrying a right exercisable by the warrant allottee to subscribe to one equity share per warrant, for cash consideration, at a price of Rs 525 per warrant (including a premium of Rs 515 per warrant). The board approved "the raising of funds of up to Rs 10,000 crore in one or more tranches, .
The International Financial Services Centres Authority (IFSCA) has issued a consultation paper on regulatory framework for dematerialization of securities by entities in the IFSC jurisdiction. India International Depository IFSC Ltd is designated as the issuing agency for International Securities Identification Numbers (ISIN) within GIFT City, IFSC. However, it has been observed that certain entities continue to obtain ISINs and hold securities through depositories located in the domestic jurisdiction, even when such securities are issued by entities established in IFSC jurisdiction, IFSCA said in a statement. In order to provide sufficient time for transition, it has been decided that the entities in the IFSC that have already dematerialised their securities with the domestic depositories in India shall migrate such securities to a depository in the IFSC by March 31, 2026, it said. To ensure a smooth transition, a depository in IFSC should ensure a seamless migration from domestic
Markets watchdog Sebi on Friday proposed changes to align regulations for entities issuing non-convertible securities, standardising the process for handling unclaimed amounts by allowing their transfer only after seven years from maturity. In its consultation paper, the regulator has proposed amendments to the Listing Obligations and Disclosure Requirements (LODR) Regulations to align them with the provisions of the Companies Act, 2013 and the Investor Education and Protection Fund (IEPF) Rules. At present, Section 125 of the Companies Act mandates that unclaimed amounts, including matured debentures and the accrued interest thereon, be transferred to the IEPF only after 7 years from the date of maturity. Rule 3 (3) of the IEPF Rules further clarifies that unclaimed interest is to be transferred along with the matured debenture amount after this period. However, Regulation 61A of the LODR Regulations currently requires that any unclaimed interest held in an escrow account for seve