Sebi eases reporting norms for brokers, reduces compliance burden

Sebi has relaxed reporting requirements for brokers and depository participants, allowing selective account reporting and simplifying demat disclosure norms

The Securities and Exchange Board of India (Sebi) has relaxed certain reporting requirements for stockbrokers and depository participants.

 

Under the revised framework, brokers that are also banks or primary dealers will now be required to report only those bank accounts that are used for stockbroking activities, instead of all accounts.

 

Additionally, Sebi has done away with the requirement for brokers to report demat accounts to stock exchanges, with depositories tasked with sharing such details directly with exchanges.

 

The regulator has also exempted certain demat accounts — used exclusively for non-broking activities — from mandatory tagging requirements in the case of brokers that are primary dealers. 

Central Mine Planning IPO subscribed 25% on day two

 

 

The IPO of Central Mine Planning and Design Institute had garnered 25 per cent subscription a day ahead of its close. In the IPO, Coal India is divesting its 15 per cent stake to raise Rs 1,840 crore. The price band for the IPO has seen set at Rs 163–Rs172 per share. At the top-end, the company is valued at Rs 12,281 crore.

 

Innovision crashes 28% on debut

 

Shares of toll plaza management firm Innovision tanked 28 per cent during their trading debut on Monday. The stock ended at Rs 373, down Rs 146, or 28.2 per cent over its issue price of Rs 519. This despite Innovision lowering its price band due to insufficient demand amid the turbulence caused by the West Asia crisis. At the last close, the company was valued at Rs 888 crore.