Unlisted Companies

With private investment slow to revive, the burden of sustaining economic momentum has fallen disproportionately on the government

Experts warn that unlisted shares often disappoint after IPO due to hype, low liquidity, and valuation gaps

Bira91 faces liquidity and operational challenges as revenue drops and losses widen; company seeks $100M funding to restart production and pay employees

Atum Capital alleges it was defrauded of 500,000 NSE shares worth over ₹115 crore by Supremus Angel, which has denied the charge citing lack of evidence

The sharp uptick in the market price of unlisted NSE is also attributed to demand from retail and high-net-worth individual (HNI) investors

Companies with higher FSI ranking have stronger balance sheets, better profit to cashflow conversion, high return on capital, and also reward their shareholders with generous equity dividends

The large share local subsidiaries of global MNCs have in the league table shows the role foreign companies and capital play in the Indian economy

Central Depository Services will facilitate these transactions, ending manual settlements and aligning with Sebi's SECC Regulations

The concluding part of the series looks at the financials of unlisted firms and examines capex trends

Uptick in FY24 mirrors similar trend in the listed space. The second of a 3-part series on unlisted firms' financials looks at their debt

After dropping nearly 5 per cent the previous week, the benchmark National Stock Exchange Nifty consolidated last week, gaining close to 1 per cent

Ambani-owned firms, MNC subsidiaries claim top spots

Tata Sons, the holding company of the Tata Group, has voluntarily surrendered its certificate of registration to the Reserve Bank of India (RBI)

And contrary to what you might think, it is all kosher

Just like the normal equity markets, investors can buy and sell shares of unlisted companies through select online platforms or well-known wealth managers/ brokers.

The industry players say that the new avenue will help startups and unlisted companies access global capital

Capital markets regulator Sebi is looking to introduce disclosure requirements for unlisted companies, which are part of a business conglomerate. While listed entities are subject to comprehensive disclosure requirements, the same levels of disclosure requirements are not applicable for unlisted companies. "There is a need to identify, monitor and manage risks introduced into the securities market ecosystem by unlisted companies in a conglomerate with a complex set of listed and unlisted associates," Sebi said in its annual report for 2022-23. Also, the regulator plans to facilitate transparency around the conglomerate by enhancing the group-level reporting of transactions. "Disclosure of details of cross-holding and material financial transactions within the conglomerate are also some of the matters that Sebi would examine to be disclosed on an annual basis," the annual report noted. The country's top business conglomerates include Tata Group, Reliance Industries, Adani Group, Ad

The top 30 list has four pharmaceutical and health care companies - unsurprising, since the Covid-19 pandemic sent the demand for health care products and services soaring

The Income Tax Department is likely to come out with modified valuation rules under the I-T Act for ascertaining the fair market value (FMV) of shares of unlisted companies for the purpose of levying tax on non-resident investments, an official said. The Finance Bill, 2023 has proposed amending Section 56(2)(viib) of the I-T Act, thereby bringing overseas investment in unlisted closely held companies, excepting DPIIT-recognised startups, under the tax net. The official said that amendments are needed as I-T Act and FEMA provide different methodologies for calculating the FMV of shares of unlisted companies. "Rule 11UA of I-T rules will be re-prescribed taking into account the concerns expressed by stakeholders to harmonise it with the FEMA regulations," the official told PTI. Rule 11UA deals with determination of FMV of assets, other than immovable property. Under the existing norms, only investments by domestic investors or residents in closely held companies were taxed over and

Average wages paid by listed companies is more than twice the salaries paid by other enterprises