Page 3 - Capital Market

Equity fundraise through rights issue spurts in 2023, shows data

Some of the large offerings this year have been PNB Housing Finance's Rs 2,500-crore rights issue in April followed by Capri Global Capital (Rs 1,440 crore), and Piramal Pharma (Rs 1,050 crore)

Stake sales by promoters, private equity investors 2.2 times of 2022

The Nifty Midcap 100 index has rallied 27 per cent, while the Nifty Smallcap 100 index has rallied 30 per cent

Government bond yields surge, tracking the rise in US Treasury yields

The yield on the benchmark 10-year bond settled at 7.24 per cent, against 7.17 per cent on Wednesday

Sebi comes out with 'stricter timeline' for disclosure of material events

Capital markets regulator Sebi on Wednesday came out with a "stricter timeline" for disclosure of material events or information by listed companies and introduced criteria for determining the materiality of events. The new framework will become effective from July 15, the Securities and Exchange Board of India (Sebi) said in a circular. Under the framework, the regulator asked listed companies to disclose family settlement agreements, which can impact the management and control of such firms to stock exchanges. These agreements need to be disclosed within 12 hours in case a listed entity is a party and within 24 hours where the listed entity is not a party. Further, for material events or information which emanate from the listed entity, including those related to acquisitions, Scheme of Arrangement, consolidation of shares, and buyback of securities, the timeline for disclosure by the entity has been reduced from 24 hours to 12 hours. In case of information that emanates from a .

Sebi to auction 22 properties of Bishal Group, NVD Solar on August 14

Capital markets regulator Sebi on Wednesday said it will auction 22 properties belonging to Bishal Group of companies and NVD Solar on August 14 to recover money illegally collected from investors. The properties will be auctioned at a reserve price of nearly Rs 37 crore, according to a public notice issued by the Securities and Exchange Board of India (Sebi). Of the 22 properties, 17 relate to Bishal Group of companies (Bishal Abasan India Ltd, Bishal Distillers Ld, Bishal Agri-Bio Industries Ltd, Bishal Horticulture and Animal Projects Ltd) and five pertain to NVD Solar. These properties include land parcels, flats and a residential building located in West Bengal. Inviting bids for the sale of properties in the recovery proceedings against the companies and their promoters and directors, Sebi said the auction will be conducted online on August 14 from 10:30 am to 12:30 pm. Adroit Technical Services has been appointed as the e-auction service provider. The regulator has asked

Structured flexible capital: Beyond traditional debt and equity

High-yield debt markets have limited depth in India and founders don't want to be seen taking on expensive debt, which is perceived as a sign of stress

Sebi slaps Rs 20 lakh penalty on 4 entities for non-genuine trades on BSE

Capital markets regulator Sebi on Thursday slapped penalties totalling Rs 20 lakh on four entities for indulging in non-genuine trades in the illiquid stock options segment on BSE. The regulator imposed a fine of Rs 5 lakh each on Niruben Manojbhai Chudasama, Raj Kumar Lohiya, Nufact Merchandise Pvt Ltd and Nitu Agarwal. Sebi had observed large-scale reversal trades in the illiquid stock options segment on BSE, leading to artificial volumes on the exchange. The regulator conducted an investigation into the trading activities of certain entities engaged in the segment from April 2014 to September 2015. The four entities that have been fined on Thursday were among those who indulged in the execution of reversal trades. Reversal trades are alleged to be non-genuine in nature as they are executed in the normal course of trading, which leads to a false or misleading appearance of trading in terms of generating artificial volumes, the regulator said. By indulging in these acts, the enti

Listed companies garner Rs 63,300-crore from equity, debt in April

Within the equity segment, funds mostly came from preferential allotment of equity shares with companies raising Rs 4,835 crore through the route

Nexus Select Trust's Rs 3,200 crore REIT IPO to hit capital market on May 9

Global investment firm Blackstone-sponsored Nexus Select Trust will hit the capital market on May 9 to raise up to Rs 3,200 crore through its retail REIT initial public offering (IPO). This will be India's first REIT (Real Estate Investment Trust) IPO backed by rent yielding retail real estate assets. At present, there are three listed REITs on stock exchanges but all backed by office assets. Nexus Selct Trust has filed its offer document with market regulator SEBI for its IPO. According to the offer document, the total size of the public issue is Rs 3,200 crore, which includes fresh issue of units worth up to Rs 1,400 crore and offer for sale (OFS) of up to Rs 1,800 crore. Earlier, the company had planned to raise up to Rs 4,000 crore from its proposed REIT public issue. In November last year, Nexus Select Trust filed the draft red herring prospectus (DRHP) with Sebi to launch its retail REIT public issue. Nexus Select Trust has a portfolio of 17 operational shopping malls acros

Sebi slaps fine of Rs 75 lakh on 15 entities for non-genuine trades

Capital markets regulator Sebi on Friday slapped fines totalling Rs 75 lakh on 15 entities for indulging in non-genuine trades in the illiquid stock options segment on BSE. In fifteen separate orders, the regulator levied a fine of Rs 5 lakh each on Vanshika Gurbani, UNNO Industries, Vaishali Tushar Shah, Varshaben ManojKumar Jadav, Surendra Kumar Bagri HUF, Ketan Desai, Kiran Bhawani and Kiran Gupta. Kiran Rasiklal Mehta, Ask Realty and Developers, Sunita Agarwal, Suresh Maheshwari, Usha Maurya, Union Commodities and Sunrise Legal Advisor and Consultant were also penalised by the markets watchdog. The Securities and Exchange Board of India (Sebi) had observed large-scale reversal of trades in the illiquid stock options segment of BSE, leading to the creation of artificial volumes on the bourse. It conducted an investigation into the trading activities of certain entities engaged in the segment on BSE from April 2014 to September 2015. According to Sebi, these 15 entities were amo

Arihant Capital settle case with Sebi, pays Rs 17 lakh as settlement charge

Arihant Capital Markets has settled with Sebi a case pertaining to alleged violation of broker and intermediaries norms. Arihant Capital Markets paid over Rs 17 lakh as settlement charges to the regulator. The order came after Arihant Capital proposed to settle the instant proceedings initiated against it, "without admitting or denying the findings of facts and conclusions of law". "The instant proceedings initiated against noticee vide show cause notice dated October 06, 2022 is disposed of," Sebi's Executive Director Anand R Baiwar said in the settlement order passed on Wednesday. Sebi initiated enquiry proceedings against noticee (Arihant Capital) for alleged violation of the broker regulations and intermediaries norms for failing to file suspicious transaction reports to Financial Intelligence Unit- India, regarding certain discrepancies noted by the noticee in the Know Your Customer (KYC) documents of its clients. Thereafter, the regulator had conducted an investigation from

Sebi rectifies penalty on Samir Jain, wife and others in PNB Finance case

Sebi found connected entities holding 91.51 per cent and 94.45 per cent in PNBFIL and CCCL, respectively

IREDA, WAPCOS to hit capital markets next fiscal: DIPAM Secy Tuhin Pandey

The government is targeting to launch the initial public offering (IPO) of clean energy lender IREDA and state-owned engineering consultancy firm WAPCOS in the next fiscal, DIPAM Secretary Tuhin Kanta Pandey said. The proceeds from the stake sales would form part of the Budgeted disinvestment kitty of Rs 51,000 crore for the next fiscal. "IREDA is lined up for Initial public offering (IPO) next fiscal. DRHP for WAPCOS has already been filed," Pandey told PTI. The Department of Investment and Public Asset Management (DIPAM) manages government equity holding in public sector companies. WAPCOS, an engineering consultancy and construction services firm under the Jal Shakti Ministry, had in September last year filed draft papers with market regulator Sebi for launching an IPO by selling 3.25 crore shares held by the government. The company's revenue from operations stood at Rs 2,798 crore, while net profit was Rs 69.16 crore in 2021-22. The IPO of the Indian Renewable Energy Developme

Indian firms raise Rs 5.06 trn via equity, debt during Apr-Nov 2022: Survey

Indian companies mobilised Rs 5.06 lakh crore through the equity and debt routes during April-November 2022, a drop of 8.5 per cent from the year-ago period, the Economic Survey 2022-23 said on Tuesday. Fund mobilisation through debt contributed a lion's share to the overall fund-raising during the period under review. Out of the cumulative Rs 5.06 lakh crore garnered in FY23 (till November 2022), funds totalling Rs 3.92 lakh crore were mopped up from the debt market and Rs 1.14 crore came in through the equity route, as per the data compiled in the survey. In comparison, firms had raised Rs 5.53 lakh crore, including Rs 3.71 lakh crore through debt and Rs 1.81 lakh crore through equity, which comprised Rs 89,166 crore from initial public offerings (IPOs), during April-November 2021. According to the survey, overall, India's capital market had a good year in FY23 though global macroeconomic and financial market developments exercised some influence. "Global macroeconomic uncertain

RBI proposal on loan loss provisions to raise bank capital needs: Analysts

The Indian central bank's discussion paper suggesting banks make provisions on bad loans using an expected credit loss (ECL) method could raise capital requirements for lenders, analysts said

Cyient DLM files preliminary papers worth Rs 740 cr with Sebi through IPO

Electronic Manufacturing Services (EMS) firm Cyient DLM Ltd has filed preliminary papers with capital markets regulator Sebi to raise Rs 740 crore through an Initial Public Offering (IPO). The initial share-sale is purely a fresh issue of equity share with no Offer-For-Sale (OFS) component, according to the Draft Red Herring Prospectus (DRHP). The company may consider issuance of securities aggregating up to Rs 148 crore in a pre-IPO placement round. Funds raised through the IPO would be utilised for funding incremental capital requirements, capital expenditure, debt payment, achieving inorganic growth through acquisitions as well as for general corporate purposes. Cyient DLM, a subsidiary of Cyient, is the leading integrated EMS and solutions provider with a focus on the entire life cycle of a product, including design, build and maintenance. It has three state manufacturing facilities in Hyderabad, Bengaluru and Mysore. The India EMS is a sizable industry, contributing to 2.2 pe

Sebi proposes regulatory framework for index providers, Rs 25 cr net worth

The regulator has floated a fresh consultation paper proposing provisions for eligibility, disclosures and audit

Bigbasket may launch IPO by 2025 after $200 million funding: CFO Parekh

Controlling about a third of India's online grocery market, Bigbasket was acquired by Tata last year

BS BFSI Insight Summit 2022: Fireside chat with SIDBI Chairman S Ramann

Ramann joined Sidbi in the midst of the second wave of Covid-19 pandemic, he has been involved in crafting policies for providing timely liquidity, and schemes for restructuring support to MSME sector

Sebi bars former MSEI MD&CEO for six months over multiple violations

Detects breach of clearing fee rules, issue of contracts without bidding process and vendor payments without supporting bills