Fewer lapses in IPO approvals this year

Lavasa Corporation might have let the approval for its initial public offering (IPO) lapse last week but only a few other companies have let that happen in 2015. Thanks to the buoyancy in the primary markets, there are only a couple of companies which allowed their IPO permission by the Securities and Exchange Board of India (Sebi) lapse this year, as per data from Prime Database. In 2012, as many as 41 companies had let this happen. According to investment bankers, companies with Sebi clearance are now able to easily come to the market with IPOs, as investor appetite remains healthy.

Samie Modak

 

MFs can still launch ETFs
All is not lost for the mutual fund sector after the Securities and Exchange Board of India (Sebi) said it would bar it from launching new fund offers (NFOs) till the number of existing schemes is reduced. According to sector sources, the market regulator is still willing to clear applications of exchange-traded funds and a couple of these have already been cleared in the past week. "Smaller houses feel it is a bit harsh on them, if the overall number of schemes comes down substantially, it is good for the investor and the industry as well. Till then, we will have to make do with existing schemes," says a veteran.

Joydeep Ghosh

BSE reaches out to parliamentary committee over listing
The Bombay Stock Exchange is knocking on all possible doors to launch its own initial public offering (IPO). After waiting for several years for clearance from the Securities and Exchange Board of India (Sebi), the country's oldest exchange has approached the parliamentary standing committee for approval. Last week, BSE officials spoke to the committee, headed by Congress leader Veerappa Moily, and claimed the stalemate on its plan for so many years was hurting the global perception about Indian markets.

Jayshree P Upadhyay