Page 110 - Sebi

Sebi fines NCP chief's nephew Abhijit Pawar Rs 10 lakh for insider trading

Sharad Pawar's nephew has been asked to pay penalty within 45 days for violating norms in Poonawalla Fincorp (earlier Magma Fincorp) case

Fund houses on Sebi's radar for sops to mutual fund distributors

Amfi writes to AMCs for second time in 10 months, asks them to withdraw such programmes

Sebi mulls liquidation flexibility for AIF, VCFs to deal with beyond tenure

Capital markets regulator Sebi on Monday proposed to provide flexibility to Alternative Investment Funds (AIFs), Venture Capital Funds (VCFs) and their investors to deal with unliquidated investments of their schemes beyond expiry of tenure. In its consultation paper, the regulator suggested that instead of launching a new liquidation scheme by AIFs, the same scheme itself can be allowed to continue with the unliquidated investments beyond their tenure for a certain period or dissolution period for fully liquidating their unliquidated investments. Additionally, the regulator proposed extending flexibility of the dissolution process to venture capital funds through migration to the AIF regime. At present, the option to launch liquidation scheme is available only to those schemes of AIFs which are under 'Liquidation Period'-- the period of one year following the expiry of tenure of the scheme for fully liquidating the scheme and not available to VCFs, irrespective of whether their ..

Market regulator Sebi tweaks rule for onboarding investors in AIFs

Capital markets regulator Sebi on Friday tweaked the framework for on-boarding investors by Alternative Investment Funds (AIFs). This came in view of amendments to the Prevention of Money-Laundering (Maintenance of Records) Rules, 2005. The Regulation 10(a) of AIF norms laid down the criteria for on-boarding investors whereby AIFs are allowed to garner funds from any type of investor -- Indian, foreign, or non-resident Indians -- through the issuance of units. However, when on-boarding investors, the AIF manager must ensure that the investor or its beneficial owner is not listed in the sanctions list by the United Nations Security Council, Sebi said in its circular on Friday. Additionally, the investor should not be a resident in a country identified by the Financial Action Task Force (FATF) as having strategic anti-money laundering or combating the financing of terrorism deficiencies, subject to countermeasures, or a jurisdiction making insufficient progress in addressing these ..

Sebi proposes changes to ease fundraising, disclosure for listed companies

The regulator proposes considering funds and insurance companies holding 5% in firms post-public offer as large non-public shareholders, as per the paper

Road to listing may get easier: Sebi expert panel for relaxing IPO norms

India Inc may get more flexibility to alter issue size, bring in promoter contribution

Jyoti CNC Automation IPO booked 38.5x on last day of subscription

Sebi warns Fortis for delaying disclosures about lawsuit in US

Sebi to auction 30 properties of 6 companies to recover money on Feb 13

Sebi on Thursday said it will auction 30 properties of six companies, including Mangalam Agro Products, on February 13 to recover money illegally collected from the investors. The properties will be auctioned for a reserve price of nearly Rs 30 crore. The other companies whose properties will also be auctioned are Bishal group of companies, Purusattam Infotech Industries, NVD Solar Ltd, Sun Plant Business and Jivan Sathi Dream Projects. The properties that go under the hammer include land parcels, plots, land with building structures and flats in West Bengal and Odisha, and they will be auctioned at a reserve price of Rs 29.97 crore, according to a notice issued by Securities and Exchange Board of India (Sebi). The markets regulator invited bids for sale of properties in the recovery proceedings against Mangalam Agro Products, Purusattam Infotech Industries, Jivan Sathi Dream Projects, Sun Plant Business, Bishal group and NVD Solar, along with their promoters/ directors, it said.

Sebi moots addl proposals on REITS, InvITs issuing subordinate units

Sebi on Wednesday proposed limiting the number of subordinate units that can be issued by REITs and InvITs as well as ensuring uniformity in the granted rights of such units. Sebi, in a consultation paper issued on Wednesday, has also made suggestions related to changes in terms and conditions of the subordinate units by the Real Estate Investment Trusts (REITs) or Infrastructure Investment Trusts (InvITs) post-issuance. The consultation paper has additional proposals for the proposed framework for issuance of subordinate units by REITs and InvITs. In December last year, Sebi had sought public comments on the framework for issuance of subordinate units by REITs and InvITs to sponsor, their associates and sponsor group. The issuance of subordinate units is primarily intended to bridge the valuation gaps that may arise as a result of difference in the valuation of an asset perceived by the sponsor (asset transferor) and the REITs/ InvITs (and/or its investors/unitholders). On the ..

Sebi puts Manappuram Finance's arm Asirvad Micro Finance IPO on hold

Reacting to the development, shares of Manappuram Finance plunged as much as 7.45% to a low of Rs 163.40 apiece on the BSE on Wednesday

SAT reserves its order in Axis Bank-Karvy Stock Broking matter

Senior counsel representing Sebi argued that the regulator had filed an appeal before the Supreme Court on December 30 for a stay on the order

Sebi gets more time in Sharpline case, DSP MF launches multicap fund

In March last year, Sebi had barred 24 entities from the securities market for manipulating share prices of two companies through misleading videos on YouTube channels

Consensus on framework for pricing transactions, deals important: Experts

Late in December, the market regulator sought comments on changes proposed in rumour verification norms through a discussion paper

Unicommerce files draft papers with Sebi to raise capital through IPO

E-commerce-focussed IT firm Unicommerce has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). The issue is entirely an offer for sale (OFS) aggregating up to 2.98 crore equity shares by the selling shareholders, according to the Draft Red Herring Prospectus (DRHP) filed with Sebi. Under the OFS, SB Investment Holdings (UK) Ltd, an affiliate of Japan's SoftBank, will offload 1.61 crore shares, promoter AceVector Limited (formerly known as Snapdeal Limited) will sell up to 1.14 crore shares and B2 Capital Partners will be selling up to 22 lakh shares. Since the IPO is completely an OFS, the entire proceeds will go to the selling shareholders. Unicommerce eSolutions is the fifth tech company which has filed IPO papers. Awfis Space Solutions, Ola Electric, Firstcry, and MobiKwik are the other technology companies that have filed draft papers in the past two weeks. Founded in 2012, Unicommerce eSolutions is India's lea

Institutional investors need to disclose about short sale of shares: Sebi

Markets watchdog Sebi on Friday said that institutional investors have to disclose upfront at the time of placing an order whether a proposed transaction is a short sale or not, a significant move aimed at curbing market volatility. The Securities and Exchange Board of India (Sebi) has made certain changes with respect to norms pertaining to short selling in the market. Short selling refers to selling a stock which the seller does not own at the time of trade. Both retail and institutional investors are permitted to short sell stocks. Amending a circular relating to short selling issued last year, Sebi said, "the institutional investors shall disclose upfront at the time of placement of order whether the transaction is a short sale". However, retail investors would be permitted to make a similar disclosure by the end of the trading hours on the transaction day. "The brokers shall be mandated to collect the details on scrip-wise short sell positions, collate the data and upload it

Fintech firm Mobikwik refiles draft papers with Sebi to raise Rs 700 cr

Unicorn fintech firm One MobiKwik Systems Ltd has filed its preliminary papers with markets regulator Sebi to raise up to Rs 700 crore through an initial public offering. This is the second attempt by the Gurugram-based firm for the public issue following its first attempt in July 2021. Earlier, the company shelved its IPO plans and withdrew its draft papers due to unfavourable market conditions. The public issue is entirely a fresh issue of equity shares worth up to Rs 700 crore, as per the draft red herring prospectus (DRHP) filed on Thursday. The company may consider a pre-IPO placement of its securities worth up to Rs 140 crore. If such a placement is undertaken, the size of the fresh issue will be reduced. The proceeds from the fresh issue to the tune of Rs 250 crore will be used for funding growth in the financial services business and Rs 135 crore for the payment services business. Further, Rs 135 crore for investment in data, machine learning and artificial intelligence, a

Majority of Indian startups eyeing IPOs in 2024 struggle with losses

Of the 12 startups looking to launch IPOs this year, eight have incurred a cumulative loss of Rs 8,000 crore, including Swiggy, and Ola Electric

Sanstar files IPO papers with market regulator Sebi to raise funds

Plant-based speciality products company Sanstar Ltd has filed its draft papers with capital markets regulator Sebi to raise Rs 425-500 crore through an initial public offering. The total size of the Initial Public Offering (IPO) is up to 4.80 crore equity shares, comprising a fresh issue of up to 4 crore shares and an Offer For Sale (OFS) of up to 80 lakh shares by its promoters and promoter group selling shareholders. As part of the OFS, Gouthamchand Sohanlal Chowdhary, Rani Gouthamchand Chowdhary, Sambhav Gautam Chowdhary, Shreyans Gautam Chowdhary, Richa Sambhav Chowdhary and Samiksha Shreyans Chowdhary will offload the shares of the company, as per the draft red herring prospectus (DRHP). Also, the company may consider a pre-IPO placement of up to 40 lakh equity shares. If such placement is completed, the fresh issue size will be reduced. According to market sources, the IPO size is expected to be Rs 425-500 crore. Going by the draft papers, proceeds from the fresh issue will

Sebi appoints G Ram Mohan Rao as executive director for a period of 3 years

Rao will be handling the investigation department and the internal inspection department

Best of BS Opinion: Back to Sebi, The story of organising retail & more

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