Page 4 - Sebi Norms

Sebi issues new rules for monitoring intraday derivative positions

The new framework, which will take effect from October 1, sets an intraday net position limit of ₹5,000 crore per entity in index options, compared with an end-of-day limit of ₹1,500 crore

NSE, BSE impose ₹673,780 fine on MTNL for non-compliance of Sebi norms

The non-compliances of Mahanagar Telephone Nigam relate to its Board composition, including the absence of a woman director, and the improper constitution of key committees

Sebi relaxes IPO norms for large firms, steps up action on finfluencers

The Securities and Exchange Board of India (SEBI) on Tuesday said it is undertaking significant reforms to enhance market integrity, facilitate large initial public offerings (IPOs), and strengthen investor protection against manipulation and fraudulent practices. SEBI Whole-time Director Kamlesh Chandra Varshney said the regulator has floated a consultation paper proposing to extend the deadline for achieving 25 per cent public shareholding to 10 years for exceptionally large companies. Currently, companies must meet this requirement within five years of listing. This relaxation, he said, will make large IPOs such as that of the National Stock Exchange more feasible. Varshney added that SEBI is advising merchant bankers and anchor investors to adopt realistic and conservative valuations in IPOs to avoid post-listing price erosion that could dent retail investor confidence. SEBI is also intensifying its crackdown on unregistered investment advisors and financial influencers who ...

BoM plans ₹2,000 crore equity issue; govt stake to fall below 75%

Bank of Maharashtra will raise Rs 2,000 crore via equity issue by FY26 to meet SEBI's 75% public shareholding rule, reducing government stake from nearly 80%

Sebi proposes new closing auction framework for liquid derivative stocks

Markets regulator Sebi has proposed a new framework for the Closing Auction Session (CAS) in the equity cash market, starting with highly liquid derivative stocks to determine the closing prices of shares. The proposal, if implemented, is expected to reduce volatility, improve fairness, and make it easier for large and passive investors to execute trades. In its consultation paper, Sebi proposed that CAS would be applied in a phased manner, beginning with stocks available in the derivatives segment-- those with sufficient liquidity--and later extended to all stocks based on experience gained. A closing auction session is a short trading period held at the end of the day to determine the final price of a security. The regulator proposed that session will be held separately for 20 minutes, from 3:15 pm to 3:35 pm, unlike an earlier proposal that suggested conducting it after market hours, between 3:30 pm and 3:45 pm. The session would be divided into four phases --reference price .

Who is Avadhut Sathe? Finfluencer on Sebi's radar: what we know so far

Avadhut Sathe, an influential figure in the financial education space, is popular for his unconventional teaching methods

Sanjiv Bhasin to return to markets: Who is he & why was he barred by Sebi?

Sebi has gone after unregistered finfluencers for providing stock recommendations, and has taken measures to remove social media content and misleading advertisements

Sebi plans longer-tenor derivative products: Chairman Tuhin Kanta Pandey

Sebi chairman Tuhin Kanta Pandey said the regulator will consult stakeholders on extending the tenor of derivatives and hinted at a pilot project for regulated pre-IPO trading

Sebi acts against 'top finfluencer' doling out stock bets as education

Sebi has launched a search operation on a leading financial influencer in Mumbai for doling out stock recommendations without registration under the guise of investor education

Sebi proposes lower dilution for mega IPOs, extended MPS timelines

Sebi has proposed easing IPO rules for companies with over ₹5-trn market cap by lowering dilution norms and extending timelines to meet public shareholding requirements

Sebi extends deadline for margin pledge implementation to October 10

Markets regulator Sebi on Monday extended the deadline for the implementation of framework pertaining to the process of margin obligations via pledge and re-pledge within the depository system to October 10. This was scheduled to come into effect from September 1, 2025. The extension came after Sebi received representation from depositories -- CDSL and NSDL -- requesting for an extension of time to carry out system developments and to ensure system readiness by carrying end-to-end testing. "Based on the same and in order to ensure smooth implementation without any disruption to the market players and investors, it has been decided to extend the timeline for implementation to October 10, 2025," Sebi said in its circular. Under the framework, Sebi introduced a mechanism where clients' securities, upon invocation, will be blocked for early pay-in within the client's demat account. The move will reduce chances of brokers misusing securities while ensuring a clear transaction trail. Al

Sebi reports spike in settlement pleas; 703 filed, 284 cleared in FY25

Markets regulator Sebi has seen a significant increase in settlement pleas as it received as many as 703 applications to settle violations of securities norms in 2024-25, indicating a trend towards resolving disputes without going through lengthy litigation processes. In the financial year 2023-24, the regulator had received 434 settlement pleas. Of these 703 settlement applications in FY25, the regulator disposed of 284 by passing appropriate settlement orders during the year, while another 272 applications were returned, rejected, or withdrawn, according to Sebi's 2024-25 annual report. The settlement mechanism allows entities to resolve cases with the Securities and Exchange Board of India (Sebi), without going through lengthy litigation, by paying a settlement fee and complying with certain conditions. For the 284 applications that were settled, Sebi collected Rs 798.87 crore towards settlement charges, in addition to Rs 64.84 crore as disgorgement charges. The settlement orde

Sebi plans review of MTF margin rules to streamline risk management

Markets regulator Sebi is looking to review the margin framework under margin trading funding (MTF) in a bid to streamline risk management at clearing corporations. In its annual report for 2024-25, Sebi said a "comprehensive review exercise is being undertaken with respect to the currently applicable margining framework." Alongside this, a review of MTF and the scrips eligible under it is also under consideration. Margin trading lets investors buy shares even if they do not have the full amount. They can purchase shares by paying only part of the price, while the rest is covered through a margin deposited in cash or as shares kept as collateral. In addition to the review of margin rules, Sebi is also considering changes to the regulatory framework for angel funds. The review will focus on fundraising processes, investment conditions, and operational aspects, with the objective of facilitating ease of doing business and streamlining regulatory requirements. Angel funds play a pivo

Research analysts fail to keep pace with swelling stock investor base

There's only one RA per 73,000 investors now, as against one per 44,000 before pandemic

Sebi bans Wadhawan brothers for five years in DHFL fund diversion case

Sebi has barred Kapil and Dheeraj Wadhawan from the markets for five years in the DHFL fund diversion case and imposed penalties totalling Rs 120 crore on them and ex-executives

Sebi proposes single-window gateway for trusted foreign investors

Sebi's SWAGAT-FI proposal aims to give trusted foreign investors a streamlined, low-cost entry to India's capital markets with simplified registration and compliance

Sebi proposes lowering investment limit for LVFs under AIF framework

The current minimum threshold for LVF AIFs is Rs 70 crore, which could be brought down to Rs 25 crore after the public consultation process is over

Dissent, don't be honorary appointees: Sebi chief to independent directors

Sebi Chairman urges independent directors to evolve from passive critics to active stewards, highlighting AI, ESG, and whistle-blower oversight as urgent board priorities

Independent directors must be stewards of accountability: Sebi chief

Sebi chief Tuhin Kanta Pandey underlined the need for broader diversity in board composition, drawing talent from varied sectors, younger professionals, and individuals outside familiar networks

Sebi chief urges redefining independent directors' role for accountability

Capital markets regulator Sebi chief Tuhin Kanta Pandey on Friday called for redefining the role of independent directors, emphasising that they must be regarded and treated as stewards of accountability. "We cannot continue to view them as honorary appointees or friendly critics. They must be viewed and treated as stewards of accountability," Pandey said while addressing the 2025 Annual Directors' Conclave. According to him, this transformation requires a change in multiple areas. Independent directors must feel free to dissent and be well-versed in emerging risks such as AI governance, cyber threats, and ESG disclosures. Their orientation should be ongoing, rather than limited to a one-time induction. Pandey stressed the need for broader diversity in board composition, drawing talent from varied sectors, younger professionals, regional voices, and individuals outside familiar networks. "A board that never disagrees is not aligned - it's asleep. Divergent views, when rooted in ...