Page 107 - Sebi

Sebi proposes ways for deregistered offshore funds to dispose of securities

A discussion paper is the first step taken by the Securities and Exchange Board of India (SEBI) before it finally changes its rules for market entities

Mutual funds knock RBI door for hike in foreign investment limits

According to MF officials, opening the MF route for international investment should not make much difference to the rupee's stability, given that other routes for foreign remittance remain open

Rashi Peripherals' Rs 600 cr IPO fully subscribed on Day 1 of offer

The initial public offer of information and communications technology products distributor Rashi Peripherals got fully subscribed on the first day of bidding on Wednesday. The IPO received bids for 1,54,17,936 shares against 1,42,37,289 shares on offer, garnering a 1.08 times subscription, as per NSE data. The portion for non-institutional investors subscribed 1.87 times, while the quota for retail individual investors (RIIs) received 1.36 times subscription. The category for qualified institutional buyers (QIBs) got subscribed 1 per cent. The Rs 600-crore initial public offer (IPO) is in a price range of Rs 295-311 a share. The IPO is completely a fresh issue of equity shares. Rashi Peripherals on Tuesday mobilised Rs 180 crore from anchor investors. Of the IPO proceeds, funds worth Rs 326 crore will be utilised for payment of debt and Rs 220 crore for funding working capital requirements and general corporate purposes. Last month, Rashi Peripherals raised Rs 150 crore from ...

Capital Small Finance Bank's Rs 523 cr IPO subscribed 50% on Day 1 of offer

The initial share sale of Capital Small Finance Bank Ltd received 50 per cent subscription on the first day of bidding on Wednesday. The Rs 523 crore-IPO got bids for 40,77,696 shares against 81,47,373 shares on offer, as per data available with the NSE. The portion for Retail Individual Investors (RIIs) got subscribed 67 per cent while the quota for non-institutional investors received 38 per cent subscription. The category for Qualified Institutional Buyers (QIBs) got subscribed 29 per cent. The Initial Public Offering (IPO) has a fresh issue of up to Rs 450 crore and an offer for sale of up to 15,61,329 equity shares. Those selling shares in the OFS include Oman India Joint Investment Fund II, American Capital, and Amicus Capital Private Equity. The IPO comes in a price range of Rs 445-468 a share. Capital Small Finance Bank on Tuesday collected Rs 157 crore from anchor investors. It will utilise the proceeds from the fresh issue towards augmenting the tier-I capital base to

Demat addition, trading turnover point to robust investor sentiment

Activity underpinned by buoyancy in underlying secondary as well as the primary markets

Sebi issues guidelines for returning draft document of public issues

Markets regulator Sebi on Tuesday came out with guidelines for returning the draft offer document for public issues and its resubmission in a bid to provide greater clarity and consistency in the disclosures as well as for timely processing. In a circular, Sebi said the draft offer document for public issue or rights issue of securities will be scrutinized based on the broad guidelines specified by it and accordingly, such document will be returned to the issuer for resubmission. Under the guidelines, the draft offer document is required to be prepared in simple language with visual representation of data to ensure ease of understanding of its contents and the information needs to be presented in a clear, concise, and intelligible manner. The draft offer document needs to avoid complex presentations; vague and ambiguous and imprecise explanations; repetition of disclosures in different sections of the document and inconsistency in the data or facts provided in different sections of

NCLT issues notice to Sony in plea by Zee Ent to implement merger

The plea of Mad Men Film Ventures, a shareholder of Zee, seeking enforcement of the merger has been clubbed together with ZEEL's plea and will be heard on the same date

State Bank to buy out SBI Capital Markets' stake in SBICAP Ventures

State Bank of India on Tuesday announced that it has got the approval of the executive committee of its central board to acquire a 100 per cent stake held by SBI Capital Markets in SBICAP Ventures. The lender said the cost of the acquisition is Rs 708 crore. "...executive committee of the central board of the bank has accorded final approval for acquiring 100 per cent stake held by SBI Capital Markets Ltd in SBICAP Ventures Ltd by State Bank of India," the country's largest lender said in a regulatory filing. The bank said that SBICAP Ventures is engaged in the business of asset and investment management having assets under management (AUM) to the tune of Rs 33,055 crore as of December 2023. The stake acquisition from SBI Capital Markets is for better governance, the lender said. The proposed transaction of acquisition is being done on an arm's length basis. The RBI and SEBI have also accorded their approvals, the lender said. According to the regulatory filing, the acquisition

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 ..

ChrysCapital looking to raise $300 million to maintain stake in NSE

Depending on how many investors opt in, ChrysCapital is expected to collect between $250 million and $300 million for the fund

Market regulator Sebi considers tweaks to MF stock categorisation framework

More stocks could get added to large-, mid-cap universe; Move could give fund managers more flexibility

Legal safeguards for independent directors vital to attract top talent

CII has suggested that proceedings against IDs may be initiated only once there is prima facie evidence of their possible involvement in the matter, rather than as a matter of course

Sebi mulls removing 1% security deposit for IPOs and rights issue

The regulator added that the number of complaints per IPO have reduced after the implementation of T+3 (Trade day plus three days) listing cycle

Sebi bats for higher flexibility in mutual funds, direct equity nominations

Proposes to give greater control to investors in terms of changes, additional inputs

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, ...

Sebi mulls revamping nominations framework to reduce unclaimed assets

Capital markets regulator Sebi on Friday proposed revamping the nominations framework in a bid 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. In its consultation paper, the regulator proposed revisions to nomination facilities for securities such as shares, bonds, units of REITs (Real Estate Investment Trusts), InvITs (Infrastructure Investment Trusts), AIFs (Alternative Investment Funds) and other securities held in dematerialized form and for units of mutual fund schemes that are expressed in a statement of account. This will address the objective of providing convenience to investors and uniformity in the procedures to institutions. Such revamped nomination facilities will operate without affecting the prevalent systems of law governing transmission and succession -- rule of survivorship in case of joint holdings, when a person has died leaving a Will; and when a perso

Sebi bars Shares Bazaar Alternative Investment Fund from raising funds

SBPL, without registration, even offered advisory services and portfolio management services with assured returns in the range of 18 to 48 per cent, it was alleged

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 ..

BLS E-Services IPO subscribed 162.48 times on last day of bidding

The Initial Public Offer (IPO) of BLS E-Services received a whopping 162.48 times subscription on the last day of bidding on Thursday. The Rs 311 crore IPO received bids for 2,22,63,80,472 shares against 1,37,02,904 shares on offer, as per NSE data. The part for non-institutional investors fetched 300.14 times subscription and the portion for Retail Individual Investors (RIIs) got subscribed 237 times. The category for Qualified Institutional Buyers (QIBs) received 123.30 times subscription. The initial share sale of BLS E-Services Ltd was fully subscribed within minutes of opening for bidding on Tuesday. The IPO of fresh issue of up to 2,30,30,000 equity shares had a price range of Rs 129-135 a share. BLS E-Services Ltd on Monday mobilised Rs 126 crore from anchor investors. The company is a leading technology-enabled digital service provider, offering business correspondent services to major banks in India, assisted e-services; and e-governance services at grass-root levels in

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