Page 109 - Sebi

Sebi gives offshore funds additional 7 mths to liquidate holdings: Rpts

"There is no immediate deadline or cliff for offshore funds to liquidate any holdings," said the first of the two sources

Promoters can offer shares to staff via stock exchange mechanism: Sebi

In a move aimed at ensuring ease of compliance and lower costs, Sebi on Tuesday said promoters of companies can give shares to their employees under the Offer For Sale (OFS) through the stock exchange mechanism. At present, shares under OFS are offered to the staff outside the stock exchange mechanism. Based on the feedback received from stakeholders, Sebi noted it is observed that the said procedure is time-consuming, and involves additional costs and multiple activities. Against this backdrop, the Securities and Exchange Board of India (Sebi) has decided on a new system that will be in addition to the existing one with respect to OFS for companies' employees. Under the new system, OFS to employees would be on T+1 day along with the retail category under a new category 'Employee'. "In order to enhance efficiency, ease of compliance and reduce cost, based on deliberations in the Secondary Market Advisory Committee of Sebi and discussions with stock exchanges and clearing corporati

Best of BS Opinion: Supply-chain efficiency, Stress testing & more

Here is the best of Business Standard's opinion pieces for today

Sebi may allow AIFs to 'exclude' investors from certain investments

Proposal will help address concerns about evergreening of loans

Don't fret over the index valuations and take stock-specific calls

Meanwhile, news reports suggest the Securities and Exchange Board of India (Sebi) is in discussions with the mutual fund industry to carry out a comprehensive stress test of equity funds

Stress testing

Evaluating equity funds is a good idea

Nearly 90% of young people lack ability to calculate loan repayments

The exercise involved calculating the total amount to be repaid after a year if one is given the loan amount and the interest applicable

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

Sebi to use in-house developed generative AI tool to clear IPO applications

The number of applications pending for one to three months was 16 and 17, respectively

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

Market regulator Sebi planning comprehensive stress tests of equity schemes

Initial round done, more tests planned, particularly of schemes with high small & midcap exposure

Bansal Wire Industries files draft papers to mobilise Rs 745 crore via 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

Working towards successful closure of merger with Sony: Zee Entertainment

Zee Entertainment Enterprises Ltd (ZEEL) on Friday said it is continuing to work towards a successful closure of its USD 10 billion merger with Culver Max Entertainment, formerly known as Sony Pictures Networks India, amid reports that the Japanese entity's board meeting to take a call on the fate of the protracted deal. In a regulatory filing, ZEEL said it was "not aware of, and cannot comment on" any board meeting held or proposed to be held by Culver Max Entertainment, given that these are internal matters of Sony. "We wish to reiterate that the Company is committed to the merger with Sony and is continuing to work towards a successful closure of the proposed merger and is engaging in good faith negotiations with Sony with a view to discuss the extension of the date required to make the Scheme effective, by a reasonable period of time," it said. The fate of the USD 10 billion merger between ZEEL and Culver Max Entertainment is hanging by a slim thread with the two parties yet to

BSE, NSE to conduct special trading session testing disruption readiness

Leading stock exchanges BSE and NSE will conduct a special trading session in the equity and equity derivative segment on Saturday to check their preparedness to handle major disruption or failure at the primary site. The special live trading session will have intra-day switch over from Primary Site (PR) to Disaster Recovery (DR) site. The exchanges said there will be two sessions -- the first from 9.15 am to 10 am from the PR, and the second from 11.30 am to 12.30 pm from the DR site. During the special session, all securities, including those on which derivative products are available, will have a maximum price band of 5 per cent. Securities already in the 2 per cent or lower price band, will continue to be available in the respective bands. "Trading members are requested to note that the exchange will conduct a special live trading session with intraday switch over from Primary Site (PR) to Disaster Recovery Site (DR) on Saturday, January 20, 2024 in equity and equity derivativ

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

SAT refuses stay on market regulator Sebi's order against Brightcom

Sebi had also barred 21 others, including ace investor Shankar Sharma, from diluting their stakes in the company

Sebi issues notices to DHFL's ex-promoters in disclosure violation case

Capital markets regulator Sebi on Thursday sent demand notices to Dheeraj Wadhawan and Kapil Wadhawan, the former promoters of Dewan Housing Finance Corp Ltd (DHFL), asking them to pay Rs 10.6 lakh each in a case concerning flouting of disclosure norms. Also, the regulator has warned them of arrest and attachment of assets as well as bank accounts if they fail to make the payment within 15 days, according to two separate notices. The demand notices came after the Wadhawans failed to pay the fine imposed on them by the Securities and Exchange Board of India (Sebi) in July 2023. The regulator imposed a fine of Rs 10 lakh each on Wadhawans, who were promoters of DHFL (now known as Piramal Finance), for flouting disclosure norms. Kapil Wadhawan was the Chairman and MD of DHFL, while Dheeraj Wadhawan is the brother of Kapil and was a non-executive director in the company. Both of them were on the board of DHFL. The order came after Sebi conducted an investigation into the transfer of .

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.

Officer's Choice whisky maker Allied Blenders files IPO papers with Sebi

Allied Blenders and Distillers Ltd, the maker of Officer's Choice Whisky, has refiled preliminary papers with the capital markets regulator Sebi to raise Rs 1,500 crore through an Initial Public Offering (IPO). The initial share sale comprises fresh issuance of equity shares worth Rs 1,000 crore and an Offer-For-Sale (OFS) of shares to the tune of Rs 500 crore by promoters, draft papers file with Securities and Exchange Board of India (Sebi) showed on Thursday. As a part of the OFS, Bina Kishore Chhabria, Resham Chhabria, Jeetendra Hemdev and Neesha Kishore Chhabria will sell shares. Out of the total proceeds from the fresh issue, Rs 720 crore will be used for the payment of debt, besides a portion will be used for general corporate purposes. As of December 2023, the company had a debt of around Rs 808 crore, according to the draft papers. With a market share of 8.2 per cent in Indian-Made Foreign Liquor (IMFL) in fiscal 2023, Allied Blenders and Distillers had earlier filed draft