Page 106 - Sebi

Sebi warns investors against 'unscrupulous entities' promising high returns

'There can be no guarantees of assured returns in securities market,' says regulator

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

Oyo likely to withdraw IPO papers, may opt for private fundraise: Report

The revised IPO draft, filed by Oyo in April 2023, was 40-60 per cent smaller than the original proposal

Sebi cautions investors against unregistered cos promising assured returns

Capital markets regulator Sebi on Tuesday cautioned investors against placing money with unregistered entities promising assured or exceptionally high returns on investments. While investing in the securities market, investors have been asked to conduct due diligence, verify the registration status of any entity claiming to be a Sebi-registered intermediary, and also verify enforcement action taken by the regulator against any entity. "Investors should be cautious of any entity that promises assured or exceptionally high returns. The principle of 'higher returns come with higher risks of losing your money altogether' holds true in the securities market," Sebi said in a statement. It further said that investments offering high returns usually involve high risk, including fraud risk, and there can be no guarantees of assured returns in the securities market. This cautionary statement came after the Securities and Exchange Board of India (Sebi) observed a rising trend of unscrupulous

Market regulator Sebi rejects NSE's settlement plea in co-location matter

The market regulator refunded Rs 300 crore to the exchange following the directions by the Supreme Court in the same case

Adani-Hindenburg case: Plea filed in SC seeks review of Jan 3 verdict

The court had directed the markets regulator to complete its probe within three months

MCX tech glitch: Trading commences on MCX at 1 pm after 4-hour delay

The exchange, instead of opening at 9am, was able to commence trading after 1 pm

Adani-Hindenburg row: Plea filed in SC seeks review of January 3 verdict

A plea has been filed in the Supreme Court seeking review of its January 3 verdict by which it refused to transfer the probe into allegations of stock price manipulation by the Adani Group to a special investigation team or the CBI. In a significant win for the Adani Group, the apex court had declined to order a CBI or SIT probe and said in its judgement that market regulator SEBI was conducting a "comprehensive investigation" into the allegations and its conduct "inspires confidence". The petition claimed there were "mistakes and errors" in the judgment, and in light of certain new material that have been received by the counsel for the petitioner, there were sufficient reasons for a review of the verdict. The review petition has been filed by Anamika Jaiswal, who was one of the petitioners in the case. The plea, filed through advocate Neha Rathi, said the Securities and Exchange Board of India (SEBI) had in its report only updated the court about the status of the 24 investigatio

Sebi increases scrutiny of IPO documents over use of funds: Report

As per Sebi rules, funds raised via IPOs can be used for capital expenditure, debt reduction, general corporate purposes and acquisitions

Entero Healthcare's Rs 1,600 cr IPO subscribed 19% on second day of offer

The initial share sale of healthcare products distributor Entero Healthcare Solutions received a 19 per cent subscription on the second day of bidding on Monday. The Rs 1,600 crore-Initial Public Offering (IPO) got bids for 13,85,604 shares against 71,50,100 on offer, as per NSE data. The category for Retail Individual Investors (RIIs) got subscribed 88 per cent while the quota for non-institutional investors received 9 per cent subscription. The portion for the Qualified Institutional Buyers (QIBs) have almost remained unsubscribed. The IPO is a combination of fresh issue of up to Rs 1,000 crore and an Offer For Sale (OFS) of up to 47,69,475 equity shares, aggregating up to Rs 600 crore at the upper end of the price band. Price range for the offer is Rs 1,195-1,258 per share. Entero Healthcare Solutions has collected Rs 716 crore from anchor investors. Proceeds from the fresh issue will be used towards payment of debt, funding working capital requirements, pursuing inorganic gr

Gopal Snacks, 2 other firms get Sebi's nod to raise fund through IPO

Gopal Snacks Ltd, piping solutions provider Dee Development Engineers and construction firm SRM Contractors have received Sebi's go-ahead to raise funds through initial public offering (IPO). The three companies, which filed their preliminary IPO papers with the markets regulator between October and November 2023, obtained its observations during February 7-9, an update with the Securities and Exchange Board of India (Sebi) showed on Monday. In Sebi's parlance, receiving observations from the regulator means its go-ahead to float the maiden public issue. According to the draft red herring prospectus (DRHP), Gopal Snacks' proposed issue is entirely an Offer For Sale (OFS) of equity shares worth Rs 650 crore by promoters and other selling shareholders. The OFS comprises sale of shares worth up to Rs 100 crore by Bipinbhai Vithalbhai Hadvani, up to Rs 540 crore by Gopal Agriproducts Pvt Ltd and up to Rs 10 crore by Harsh Sureshkumar Shah. Founded in 1999, Gopal Snacks is a fast-movin

Sebi ups scrutiny of issue documents amid a rise in IPO in market: Reports

"The regulator has returned at least six public offer documents, as Sebi observed companies are misleading in their reasons for fundraise," said the first of the four people cited above

Simplifying nominations can boost financialisation

The Securities and Exchange Board of India's (Sebi) recent consultation paper aimed at overhauling nomination facilities for mutual funds and securities in demat accounts seeks to rectify such issues

Akums Drugs files IPO papers with Sebi to raise Rs 680 cr via fresh issue

Akums Drugs and Pharmaceuticals Ltd has filed draft papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). The initial share-sale is a combination of fresh issue of equity shares worth Rs 680 crore and an offer-for-sale (OFS) of 1.86 crore shares by promoters and an existing investor, according to the draft red herring prospectus (DRHP) filed on Saturday. Those selling shares in the OFS are Sanjeev Jain, Sandeep Jain and Ruby QC Investment Holdings Pte Ltd. The company is looking to raise Rs 136 crore through a pre-IPO placement. If such placement is undertaken, then fresh issue size will be reduced. Proceeds from the fresh issue will be used to repay debt, fund working capital requirements of the company, pursue inorganic growth initiatives through acquisition and for general corporate purposes. Founded in 2004, Akums is a pharmaceutical contract development and manufacturing organization (CDMO) offering a comprehensive range of ...

IPO-bound travel distribution platform TBO Tek seeks to expand in West

Company connects travel agencies and suppliers like hotels, airlines in more than 100 countries

Jana Small Finance Bank IPO gets subscribed 18.50 times on final day

The initial public offering of Jana Small Finance Bank received 18.50 times subscription on the closing day of share sale on Friday. Private equity majors TPG and Morgan Stanley-backed company's IPO received bids for 18,71,96,580 shares as against 1,01,16,284 shares on offer, as per NSE data. The portion for Qualified Institutional Buyers (QIBs) fetched 38.75 times subscription while the category for non-institutional investors got subscribed 25.05 times. The Retail Individual Investors (RIIs) part received 5.46 times subscription. The Bengaluru-headquartered firm's Initial Public Offering (IPO) had a fresh issue of up to Rs 462 crore and an Offer For Sale (OFS) of up to 2,608,629 shares. It had a price range of Rs 393-414 apiece. Jana Small Finance Bank on Tuesday garnered Rs 167 crore from anchor investors. The bank will use the money from the fresh issue to augment its core capital to meet future capital requirements and improve its capital adequacy ratio. Axis Capital, ICICI

Uncharacteristic of NBFCs to seek bank licences: RBI Dy Guv Rajeshwar Rao

Reserve Bank Deputy Governor M Rajeshwar Rao on Friday said it is uncharacteristic of non-bank lenders to seek bank licences when they are already enjoying some regulatory advantages. Addressing a conference on non-bank finance companies (NBFCs) organized by CII, Rao also hit out at certain microlenders for "misusing" the liberty offered by the regulator on interest rates, and charging high rates. Rao also expressed displeasure at certain peer-to-peer lending platforms for following business practices which are not in line with the licensing guidelines, and made it clear that such breaches were not acceptable. He also spoke about the constant demand from NBFCs to convert into banks, and made it clear that regulations for even entities in the top-most tier of NBFCs are not at par with universal banks, and NBFCs enjoy some advantages. "NBFCs have evolved as niche companies serving specific economic functions, and it is uncharacteristic of them to demand becoming like a bank," Rao ...

Sebi mulls framework for FPIs to sell assets after expiry of registration

Currently, there is no provision to deal with securities lying frozen in the demat accounts of FPIs whose registration has expired

Sebi tweaks pricing method for institutional placement by private InvITs

Capital markets regulator Sebi on Thursday came out with revised pricing guidelines for institutional placements by privately placed infrastructure investment trusts (InvITs) in a bid to promote ease of doing business. Under the new guidelines, privately placed InvITs can undertake institutional placement based on net asset value (NAV) of InvIT's assets. "The institutional placement by privately placed InvIT shall be made at a price not less than the NAV per unit, based on the full valuation of all existing InvIT assets conducted in terms of InvIT Regulations," the Securities and Exchange Board of India (Sebi) said in a circular. As per the current rule, the institutional placement by InvIT needs to be made at a price not less than the average of the weekly high and low of the closing prices of the units of the same class quoted on the stock exchange during the two weeks preceding the relevant date. The decision has been taken based on the request of the industry in respect of pric

Sebi mulls relaxation in timelines for FPIs' material change disclosures

Capital markets regulator Sebi on Wednesday came out with a proposal to relax timelines for disclosure of material changes by Foreign Portfolio Investors (FPIs). The regulator also suggested a framework for providing flexibility to FPIs in dealing with their securities after expiry of their registration. In its consultation paper, Sebi proposed categorising material changes notified by FPIs into two groups to set timelines for reporting such changes. Type I includes changes that require FPIs to seek fresh registration, or which affect any privileges or exemption available to such foreign investors and Type II includes all other material changes. The regulator has proposed that FPIs should report Type I changes within seven working days and provide supporting documents within 30 days and Type II changes require notification and supporting documents within 30 days. At present, FPIs get time up to seven working days to submit information to it with regard to any material change in it