Page 3 - Capital Market

Sebi clarifies on reports pertaining T+0 system mandatory for all

Capital markets regulator Sebi on Wednesday clarified on media reports pertaining to making the T+0 system mandatory for all. "This has been erroneously reported in a section of the press as Sebi bats for making the T+0 system mandatory for all," the regulator said in a statement. In a statement issued, the regulator clarified that its chief Madhabi Puri Buch was discussing the Application Supported by Blocked Amount (ASBA) facility, not the T+0 settlement cycle. The ASBA facility ensures that the investor's fund gets moved only when the allotment is completed. At an NSE event on Tuesday, the Sebi chairperson released a report on "Indian Capital Markets: Transformative Shifts Achieved through technology and reforms". The report referred to potential annual benefit of Rs 2,800 crore if ASBA for the secondary market were to be adopted fully by retail investors. "In this context, a question was posed to the Sebi chairperson on the ASBA facility being optional due to which retail ...

Govt unlikely to choose fiscal profligacy: Elara Capital CEO Raj Bhatt

Bhatt says India stands out globally because of its financial discipline

FIU notifies fresh terror financing reporting alerts for capital markets

A fresh set of 'alert indicators' have been issued by India's financial intelligence unit (FIU) for capital markets, insurance companies, online payment gateway intermediaries and crypto currency service providers for effective checking of suspicious transactions in their channels as part of the anti-money laundering and counter-terrorism financing regime. These new guidelines have been issued under the provisions of the Prevention of Money Laundering Act (PMLA) during the 2022-23 financial year and published in a recently released report that has been accessed by PTI. This is part of the anti-money laundering (AML) and combating the financing of terrorism (CFT) regime followed by the country as part of which financial institutions and intermediaries are mandated to share suspicious transaction reports (STRs) with the FIU which subsequently analyses them and shares them for action with various investigative and intelligence agencies. FIU proactively engages with the financial sector

India's deal-making activity unfazed by elections: BNP Paribas' Murugaiyan

Murugaiyan, who oversaw close to a dozen ECM deals in 2023, says large sell-downs by private equity (PE) firms show the depth of the domestic market

Best of BS Opinion: A question of spirit, Reforming judiciary & more

Here is the best of Business Standard's opinion pieces for today

Retail rush: Keeping faith in markets

The surge in retail participation, combined with increasing market complexity, poses new challenges for the Sebi

Govt appoints Rajay Kumar Sinha as Irdai's member for three years

Sinha is currently serving as the Managing Director and Chief Executive Officer of SBI Capital Markets, the investment banking arm of the State Bank of India

Commercials back rupee-denominated borrowing: HSBC India's Amitabh Malhotra

"Given cross-currency hedging rates, the borrowing cost in dollar terms would be significantly more for companies that do not have a natural hedge"

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