Page 28 - Sebi Norms

Agilus Diagnostics to withdraw DRHP filed with market regulator Sebi

The company added that making the necessary application to Sebi for withdrawal of the said DRHP immediately and may re-file with Sebi again for a proposed IPO in future

Sebi debars TV experts and research analysts for 'stock manipulation'

Experts shared recommendations to certain entities before broadcast; Wrongful gains pegged at Rs 7.5 crore

Three IPOs to hit primary mkt on Wednesday; aim to raise Rs 1,700 cr

The IPO lane is getting busy with three entities -- Rashi Peripherals, Jana Small Finance Bank and Capital Small Finance Bank-- set to float their maiden public issues on Wednesday to collectively mobilise around Rs 1,700 crore. Additionally, Entero Healthcare Solutions will launch its Rs 1,600-crore initial share-sale on February 9. Further, the Rs 920-crore IPO of Apeejay Surrendra Park, which runs hotels under the "The Park" brand, is currently under subscription. Last month, five firms tapped the primary market and garnered around Rs 3,266 crore. Market experts maintain a strong bullish outlook on the IPO (initial public offering) market for 2024. Companies are expecting to benefit from an equity market which is flush with liquidity and has seen a sharp increase in new retail investors. "We hold a strong bullish outlook on the IPO market in 2024. This optimism is buoyed by robust domestic and foreign investments, driven by superior growth prospects of the Indian markets. The ..

Sebi panel for abolishing security deposit requirement in public issues

An expert committee formed by Sebi on Friday suggested to abolish the requirement of a mandatory security deposit with the exchanges before a public issue, a move that could make it easier for companies to access the primary market. Under the current rule, any company that is looking to launch a public or rights issue of equity shares has to deposit with the stock exchanges an amount equal to 1 per cent of the issue size. The deposit is returned to the company after the public issue. In the consultation paper issued by Sebi, the committee suggested that the requirement of 1 per cent security deposit for public or rights issues may be done away with. Explaining the rationale behind the move, the committee said that the requirement of 1 per cent security deposit was put in place for public/rights issues so that an issuer resolves investor complaints relating to the transaction such as for refund of application money, allotment of securities and dispatch of certificates. However, ...

Blackstone-backed Aadhar Housing files Rs 5,000 cr IPO papers with Sebi

Aadhar Housing Finance Ltd, which is backed by private equity major Blackstone, has filed preliminary papers with capital markets regulator Sebi to raise Rs 5,000 crore through an Initial Public Offering (IPO). The IPO is a combination of a fresh issue of equity shares worth Rs 1,000 crore and an offer-for-sale (OFS) of Rs 4,000 crore by promoter BCP Topco VII Pte Ltd, an affiliate of Blackstone Group Inc, according to the Draft Red Herring Prospectus (DRHP) filed on Wednesday. Currently, BCP Topco holds a 98.72 per cent stake in Aadhar Housing Finance. The company proposes to utilise the proceeds from the fresh issue to the tune of Rs 750 crore for meeting future capital requirements towards onward lending and a portion will also be used for general corporate purposes. Aadhar Housing Finance offers a range of mortgage-related loan products, including loans for residential property purchase and construction; home improvement and extension loans; and loans for commercial property ..

Sebi reviewing small, mid-cap funds' capacity to bear sharp falls: Report

While Sebi has completed one round of stress test reviews, it wants funds to test for more adverse scenarios, report says

Market regulator Sebi considers tighter norms for proprietary trades

Markets regulator plans to make Industry Standards Forum a permanent feature

Market regulator Sebi's move gives fillip to accredited investors

Number of such investors surged 75% in the last month since the onboarding process was simplified

Alpex Solar files preliminary papers with sebi to raise Rs 75 cr via IPO

Solar energy solutions provider Alpex Solar on Wednesday said it has filed preliminary papers with SEBI to raise Rs 75 crore through an initial public offering. The offer comprises fresh issuance of 64,80,000 equity shares with a face value of Rs 10 each, a company statement said. Alpex Solar has filed its Draft Red Herring Prospectus (DRHP) for the IPO and shares will be listed with NSE Emerge. The company intends to raise around Rs 75 crore through the IPO, it stated. It will utilise net proceeds from the IPO to upgrade and expand its existing solar module manufacturing facility from 450 MW to 1.2 GW under the Aatmanirbhar Bharat initiative, besides setting up a new manufacturing unit for its solar module's aluminium frame. The funds will also be used to meet its working capital requirements and for general corporate expenses. Corporate Capital Ventures has been appointed as the book running lead manager to the issue and Skyline Financial Services is the registrar. Alpex Solar

Market regulator Sebi probing three IPOs for inflating subscriptions

MUMBAI (Reuters) -India's market regulator is investigating three initial public offerings (IPOs) for allegedly inflating the number of subscriptions received

Over Rs 30,000 crore AIF investments found circumventing norms: Sebi

For the first time, Sebi has identified the amount found under circumventions which stands over Rs 30,000 crore. The regulator has not yet completed its thematic inspections

Sebi to crack down on inflation of IPO subscription, spots such 3 cases

Regulator considering policy review and enforcement action against merchant bankers, says Madhabi Puri Buch

Sebi mulling exemptions in AIF norms, may allow pledging of infra assets

Sebi has been consulting with the Reserve Bank of India (RBI) too, he added, to discuss the potential 'financial stability ramifications'

Bansal Wire Industries files draft papers to mobilise Rs 745 cr via IPO

Steel wire manufacturer Bansal Wire Industries Ltd has filed preliminary papers with capital markets regulator Sebi to raise Rs 745 crore through an Initial Public Offering (IPO). The maiden public issue is an entirely fresh issue of equity shares with no Offer-For-Sale (OFS) component, according to the Draft Red Herring Prospectus (DRHP) filed on Thursday. Funds will be used for the payment of debt, to support the working capital requirements of the company, and for general corporate purposes. Bansal Wire Industries is engaged in the business of manufacturing and exporting steel wires. It operates in three broad segments -- high carbon steel wire, mild steel wire (low carbon steel wire) and stainless steel wire. Also, the company plans to add a new segment of specialty wires through its upcoming plant in Dadri, which will help it grow and expand its market presence in the upcoming fiscals. The company's total income increased at a CAGR of 28 per cent to Rs 2,422.56 crore in fisc

KRN Heat Exchanger files draft papers with Sebi to raise funds via IPO

KRN Heat Exchanger and Refrigeration Ltd has filed preliminary papers with capital markets regulator Sebi to mobilise funds through an Initial Public Offering (IPO). The initial share sale is entirely a fresh issue of 1.93 crore equity shares with no Offer for Sale (OFS) component, draft red herring prospectus (DRHP) filed with Sebi showed on Thursday. Funds will be used for investment in wholly-owned subsidiary KRN HVAC Products for setting up a new manufacturing facility at Neemrana, Alwar, in Rajasthan. The company manufactures fin and tube type heat exchangers for the heat ventilation air conditioning and refrigeration industry. According to the Dun and Bradstreet Research Report, the Indian market for heat exchanges reached USD 625 million per annum in 2022, with an annual industry turnover increasing by a CAGR of 10 per cent between 2019 and 2022. Holani Consultants is the sole book-running lead manager to the issue.

Sebi fines NCP chief's nephew Abhijit Pawar Rs 10 lakh for insider trading

Sharad Pawar's nephew has been asked to pay penalty within 45 days for violating norms in Poonawalla Fincorp (earlier Magma Fincorp) case

Sebi renews recognition to AMC Repo Clearing for 1 yr to clear transactions

The regulator has granted renewal of recognition for one year starting from January 17, 2024 till January 16, 2025, according to a notification uploaded on Sebi's website on Tuesday

Sebi introduces guidelines for AIFs on holding investment in demat form

Capital markets regulator on Monday put in place guidelines for Alternative Investment Funds (AIFs) pertaining to holding their investments in dematerialised form along with the appointment of custodian. Under the latest guidelines, AIFs are required to hold their investments in dematerialised form, unless exempted by Sebi. The new framework, effective from October 1, 2024, mandates that any investment made by an AIF after this date must be held in dematerialised form, Sebi said in a circular. However, investments made before this date have been exempted except in cases where the investee company is legally required to facilitate dematerialisation or when the AIF, alone or with other Sebi registered entities, has control over the investee company. Sebi also said investments made before October 1, 2024, falling under these two conditions mentioned must be dematerialised by January 31, 2025. Further, there are exemptions for AIF schemes with tenures ending on or before January 31, 2

Market regulator Sebi tweaks rule for onboarding investors in AIFs

Capital markets regulator Sebi on Friday tweaked the framework for on-boarding investors by Alternative Investment Funds (AIFs). This came in view of amendments to the Prevention of Money-Laundering (Maintenance of Records) Rules, 2005. The Regulation 10(a) of AIF norms laid down the criteria for on-boarding investors whereby AIFs are allowed to garner funds from any type of investor -- Indian, foreign, or non-resident Indians -- through the issuance of units. However, when on-boarding investors, the AIF manager must ensure that the investor or its beneficial owner is not listed in the sanctions list by the United Nations Security Council, Sebi said in its circular on Friday. Additionally, the investor should not be a resident in a country identified by the Financial Action Task Force (FATF) as having strategic anti-money laundering or combating the financing of terrorism deficiencies, subject to countermeasures, or a jurisdiction making insufficient progress in addressing these ..

Axis Bank-Karvy matter: SAT says Sebi has 4 weeks to restore pledged shares

The matter pertains to an appeal by several lenders to whom defaulter Karvy had pledged securities of its clients to the tune of Rs 1,400 crore