Page 103 - Sebi

Street Signs: Easing the IPO fervor, Long road to mkt hour extension, more

The Brokers' Industry Standards Forum (ISF) is confronted with the formidable task of uniting a divided house on the matter of extending market hours

Sebi extends deadline for comments on revamp of nominations framework

Markets regulator Sebi has extended the deadline till March 28 for submitting public comments on the proposal to revamp the nominations framework, a move aimed at reducing unclaimed assets in the securities market. The Securities and Exchange Board of India (Sebi) had placed the consultation paper to revise and revamp nomination facilities for the Indian securities market on its website on February 2 and sought comments by March 8. Now, it has been decided to extend the timeline for submission of comments to March 28, the Sebi said. In its consultation paper, the regulator proposed revamping the nominations framework in a move to reduce unclaimed assets in the securities market as well as smoothen the process for claiming the assets by surviving successors of the deceased investors. Also, it suggested revisions to nomination facilities for securities such as shares, bonds, units of REITs (Real Estate Investment Trusts), InvITs (Infrastructure Investment Trusts), AIFs (Alternative .

Sebi and RBI take away the punch bowl

Unenviable position: If regulators act ahead, they are criticised as the action is at odds with some people's financial interests; if they don't act, they are blamed for being lax when disaster hits

Stress disclosures on small, mid-cap funds by AMCs from March: Report

In a bid to maintain stability, instil investors' confidence and enhance transparency, market regulator SEBI and AMFI, a body representing the mutual fund industry, have directed fund houses to provide additional disclosures for small and mid-cap funds from this month, officials said. The additional disclosure parameters for mutual fund managers include valuation, volatility, investor concentration and stress tests, they said. "We have instructed AMFI to direct AMCs to disclose certain additional data points relating to valuation, volatility, investor concentration, and the percentage holding in small and mid-cap stocks, along with disclosures on stress testing results," SEBI wholetime member Amarjeet Singh said at an event organised by Indian Chamber of Commerce. The stress test results are expected to reveal the time it may take for Asset Management Companies (AMCs) to liquidate securities equivalent to 25 per cent and 50 per cent of the Assets Under Management (AUM) of the scheme

Sebi, RBI widen investigation into public debt issue subscriptions: Report

Investigators are also studying if disproportionate loans were given to subscribes and whether customer identification processes were not adequately followed, the sources added

Fund of Funds commits Rs 9,500 crore for startups, says Sidbi chairman

SIDBI chairman S Ramann on Friday said that the Fund of Funds for Start-ups (FFS) has committed Rs 9,500 crore for the promotion of new ventures in the country. The FFS was unveiled by the Prime Minister on January 16, 2016, in line with the Start-up India Action Plan. It has approved a corpus of Rs 10,000 crore for contribution to various Alternative Investment Funds (AIFs) registered with SEBI. Introduced with a focused objective of supporting development and growth of innovation-driven enterprises, FFS facilitates funding needs for start-ups through participation in the capital of SEBI-registered Alternative Investment Funds. The commitment of Rs 9500 crore has led to over 100 AIFs raising Rs 56,000 crore more, he said at TiEcon Delhi 2024 conference here. "It's really a staggering figure. The ability of all of you (AIFs) to go out and bring in that kind of money from your foreign Limited Partners (LPs) convince the Indians to become LPs," he said. Observing that AIFs space is

Will cooperate fully with Sebi in probe into debt issue: JM Financial

JM Financial Ltd has said it would fully cooperate with capital market regulator Sebi in its investigation into the public issue of debt securities. The statement came after Sebi barred JM Financial from accepting new mandates to act as a lead manager for the public issue of debt securities, for flouting regulatory norms. However, JM Financial can continue to act as a lead manager for the public issue of debt securities for a period of 60 days in case of existing mandates, Sebi said in its interim order on Thursday. Further, the regulator will undertake an investigation into these issues, to be completed within six months. Following the order, JM Financial in a filing to the stock exchanges said, "The company shall fully cooperate with Sebi in this investigation". The Sebi's directive came days after the Reserve Bank barred JM Financial Products Ltd from providing any form of financing against shares and debentures, including sanction and disbursal of loans against initial public

Sebi bars JM Financial from acting as lead manager of debt issue

Shares of JM Financial tanked by 20 per cent following the RBI order on Wednesday. Later, the stock recouped the bulk of the losses

Sebi warns Vedanta for publishing 'unlisted ultimate holding' firm's info

Mining major Vedanta on Thursday said it has received an administrative warning from markets regulator Sebi for "publishing information related to its unlisted ultimate holding company". Vedanta received a letter from NSE on March 6, 2023, annexing a letter dated February 29, 2024, issued by the Securities and Exchange Board of India (Sebi), according to a regulatory filing. The company has been directed to place the said letter before its board and take necessary corrective steps to strengthen the internal control for corporate announcements/ press releases, it said without divulging any further information. On the details of the violations alleged to be committed, the company said the letter is "in respect of it publishing information related to its unlisted ultimate holding company". New Delhi-based Vedanta Ltd is a diversified natural resources company with interests in oil and gas, aluminium, copper, zinc, lead, silver, iron ore and steel.

Anil Agarwal's Vedanta receives an administrative warning from Sebi

Vedanta said that the development will have no impact on financial, operational or other activities of the company, quantifiable in monetary terms to the extent possible

Sebi bars JM Financial from acting as lead manager of any public debt issue

This came days after the Reserve Bank barred JM Financial Products Ltd from providing any form of financing against shares and debentures

JG Chemicals' Rs 251.2 crore IPO subscribed 6.39 times on Day 2 of offer

The initial share sale of JG Chemicals received 6.39 times subscription on the second day of bidding on Wednesday. The Rs 251.2 crore-initial public offer received bids for 5,21,75,446 shares against 81,68,714 shares on offer, according to data available with the NSE. The quota for non-institutional investors fetched 9.63 times subscription while the Retail Individual Investors (RIIs) part got subscribed 8.30 times. The category for Qualified Institutional Buyers (QIBs) received 45 per cent subscription. The zinc oxide manufacturer's Initial Public Offer (IPO) has a fresh issue of up to Rs 165 crore and an offer-for-sale of up to 39 lakh equity shares. Its price range is fixed at Rs 210-221 a share. JG Chemicals on Monday said it has collected over Rs 75 crore from anchor investors. Proceeds from the fresh issue to the tune of Rs 91 crore will be utilised for investing in JG Chemicals' material subsidiary BDJ Oxides and Rs 35 crore will be used for funding the long-term working .

Sebi introduces settlement third scheme on illiquid stock option cases

Capital markets regulator Sebi on Wednesday introduced a third settlement scheme for entities involved in reversal trades in the stock options segment on BSE in 2014 and 2015. The scheme will commence on March 11 and conclude on May 10, the Securities and Exchange Board of India (Sebi) said in a statement. After the expiry of the scheme period, actions as per the relevant provisions of securities laws will be continued against the entities which do not avail this opportunity for settlement. Moreover, the regulator said that frequently asked questions with respect to the scheme will be available on the websites of Sebi and BSE on March 11. The scheme would provide a settlement opportunity to all the entities that have executed reversal trades in the stock options between April 1, 2014, and September 30, 2015, against whom proceedings have been initiated and are pending before any authority or forum. By availing the benefit of the scheme, the entities can settle such proceedings and

Nippon India Mutual Fund looking to increase presence in UP: CEO Sikka

Nippon India Mutual Fund is looking to increase its presence, both physical and digital, in Uttar Pradesh, which is expected to be the flag bearer for the mutual fund industry, its CEO said on Monday. Asserting that Uttar Pradesh will be the "flag bearer" of the mutual fund industry, Sundeep Sikka, the ED and CEO of Nippon India Mutual Fund said that the company remains "committed to UP". Sikka, who was in Lucknow to inaugurate the new regional office, told PTI, "UP is the fastest-growing market in India. The national average is that the mutual fund industry has grown 17 per cent, and the UP market has grown 23 per cent in the last five years. And we believe that UP will be the flag bearer for the mutual fund industry." "We are happy to serve 20 lakh investors in UP, and want to increase our digital and physical presence in the state," Sikka said. The company is already present in 31 locations in Uttar Pradesh. The company is inaugurating a new regional office of Nippon Life India

Ceigall India files IPO papers with Sebi, eyes Rs 618 cr via fresh issue

Infrastructure company Ceigall India Ltd has filed preliminary papers with capital markets regulator Sebi to mobilise funds through an Initial Public Offering (IPO). The Ludhiana-based company's IPO is a combination of a fresh issue of Rs 617.69 crore and an Offer For Sale (OFS) of up to 1.43 crore equity shares by the promoters, and an individual selling shareholder, according to the draft red herring prospectus filed on Sunday. Promoters and promoter group entities -- Ramneek Sehgal, Ramneek Sehgal and Sons HUF, Avneet Luthra, Mohinder Pal Singh Sehgal, Parmjit Sehgal, Simran Sehgal -- and individual shareholder Kanwaldeep Singh Luthra are divesting their stakes in the proposed public issue. The offer includes a reservation for subscription by eligible employees. The company may consider raising Rs 123.50 crore in the pre-IPO placement round. If such placement is completed, the fresh issue size will be reduced. Proceeds from the fresh issue to the tune of Rs 118.78 crore will be

Fairfax-backed Go Digit receives Sebi's approval to raise funds via IPO

Go Digit General Insurance Ltd, a firm backed by Canada-based Fairfax Group, has received Sebi's go-ahead to raise funds through an initial public offering (IPO), an update with the regulator showed on Monday. The approval came after the company's preliminary IPO papers were first filed in August 2022. Go Digit's proposed IPO comprises fresh issuance of shares worth Rs 1,250 crore and an Offer For Sale (OFS) of 10.94 crore shares by promoter Go Digit Infoworks Services and existing shareholders, according to the draft red herring prospectus (DRHP). Proceeds from the fresh issuance would be utilised for the augmentation of the company's capital base and maintenance of solvency levels and for general corporate purposes. Cricketer Virat Kohli and his wife and actor Anushka Sharma are among the investors in the firm. According to an update with the Sebi (Securities and Exchange Board of India) on Monday, the regulator gave its observation on March 1. In Sebi's parlance, obtaining ..

NSE unique investor count tops 90 mn; Sebi's settlement plea of 4 banks

Mahar­a­sh­tra has the highest number of unique investors at 16 million followed by UP and Gujarat with 9.7 million and 8.1 mi­llion investors, respectively

Sebi slaps Rs 4.8 mn fine on 8 entities for flouting regulatory norms

Capital markets regulator Sebi on Thursday slapped a fine of Rs 48 lakh on eight entities, including promoters of United Polyfab Gujarat Ltd (UPGL), for manipulating the share prices of the company. These entities have to pay the penalty jointly and severally within 45 days, as per an order. The order came after Sebi conducted an investigation of UPGL and trading by certain entities in the scrip of the company, to ascertain whether there was any violation of the provisions of the PFUTP (Prohibition of Fraudulent and Unfair Trade Practices) rules. Based on the findings of the probe in the matter of trading by certain entities in the scrip of UPGL, the regulator initiated adjudication proceedings against these entities. Thereafter, the regulator issued a common show cause notice to the noticees on July 18, 2023. "...UPGL and Gagan Nirmalkumar Mittal in collusion with other Noticees i.e. Shiv Marketing and Trading, Vishwakarma Trading House, Anilkumar Mangalchand Mittal, Amay Spincot

Mirae Asset Mutual Fund seeks Sebi's approval for mid, smallcap funds

While the industry has always had large and midcap funds, there is no scheme that offers exposure only to mid- and smallcap stocks

SoftBank arm SVF India pares 2.17% stake in One 97 Communications

SoftBank arm SVF India Holdings has trimmed its holding in One 97 Communications by 2.17 per cent through the sale of 13.7 million shares in the open market over the past almost one month, according to a statutory filing on Thursday. With this, SoftBank affiliate SVF India Holdings (Cayman) has now a 2.83 per cent stake in the fintech company. "SVF India Holdings (Cayman) Ltd has disposed of an aggregate of 13,784,787 equity shares of One 97 Communications Ltd in a series of disposals undertaken between January 23, 2024, and February 26, 2024, with the disposal on February 26, 2024, beaching the 2 per cent threshold specified in...SEBI Takeover Regulation," One 97 Communications, which own the digital payment app Paytm, said in a BSE filing. It mentioned "open market" as a mode of sale. Japan's SoftBank has been paring its holding in the company over the past quarters. Notably, the latest sale comes at a time when One 97 Communications' associate entity Paytm Payments Bank Limited