Page 112 - Sebi

Mutual funds bounce back in 2023 with Rs 9 trillion surge in asset base

The mutual fund industry has bounced back strongly this year after a lacklustre 2022 with a remarkable Rs 9 lakh crore surge in the asset base, propelled by a buoyant equity market, stable interest rates and robust economic expansion. Experts believe that the positive momentum should continue into the near year as well. With a substantial increase, the overall inflow this year has reached Rs 3.15 lakh crore, accompanied by a growth of over 2 crore in the investor count. This was supported by the increasing popularity of Systematic Investment Plans (SIPs), which drew in Rs 1.66 lakh crore, according to the data shared by the Association of Mutual Fund Industry (Amfi). The inflow has pushed the assets under management (AUM) of the mutual fund industry by 23 per cent or Rs 9 lakh crore in 2023, the data showed. This was way higher than the 7 per cent growth and Rs 2.65 lakh crore increase in AUM observed throughout 2022, as well as the nearly 22 per cent growth and close to Rs 7 lakh .

Sebi proposes implementation of T+0 settlement cycle in two phases

The shorter cycle to be optional; T+1 to remain available

Shri Balaji Valve Components IPO opens Wed: Price band at Rs 95-100/share

Steel products maker Shri Balaji Valve Components on Friday said it has fixed a price band of Rs 95-100 per share for its Initial Public Offering (IPO). The issue will open for public subscription on December 27 and conclude on December 29, the company said in a statement. The public issue is entirely a fresh issue of 21.6 lakh equity shares, it said. At the upper end of the prices, the company aims to raise about Rs 21.60 crore from the public issue. The company's shares are scheduled on the BSE-SME segment. The sole book-running lead manager to the issue is Hem Securities Ltd, while Bigshare Services is the registrar for the IPO. Proceeds from the issue will be utilised in funding capital expenditure towards the installation of additional plants and machines, meeting working capital requirements, and general corporate purposes. Pune-based Shri Balaji Valve Components is into manufacturing of valve components for industries like power, construction, oil and gas, and pharma.

Gretex Share Broking files draft papers with Sebi to raise funds via IPO

Gretex Share Broking has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). The IPO is a combination of fresh issue of 1.67 crore equity shares and an offer-for-sale (OFS) of 30.96 lakh shares by selling shareholders, according to the draft red herring prospectus (DRHP) filed with Sebi on Friday. Proceeds from the fresh issue would be used towards working capital requirements and for general corporate purposes. Mumbai-based Gretex Share Broking is engaged in the business of market making and stock broking, underwriting capital markets issuances and depository participants of NSDL. Pantomath Capital Advisors is the sole book running lead manager to the issue. Equity shares of the company will be listed on the BSE and NSE.

Sebi to auction properties of 5 cos on Jan 22 to recover investors money

Capital markets regulator Sebi has said it will auction 13 properties of five companies, including Sunheaven Agro India and RaviKiran Realty India, along with that of promoters and directors on January 22 to recover money illegally collected from investors. The other firms whose properties will be auctioned are Just-Reliable Projects India Ltd, Orion Industries, and Rakhal Bharoti group of companies. The properties will be auctioned at a reserve price of Rs 15.08 crore, according to a public notice issued by the Securities and Exchange Board of India (Sebi) on Monday said. These assets include land parcels in West Bengal and Jharkhand. Further, Quikr Realty has been engaged by Sebi to assist in the sale of these properties. Of the 13 properties, seven are related to Rakhal Bharoti group of companies, two each of Orion Industries Ltd and Just-Reliable Projects India and one each of Sunheaven Agro India, and Ravikiran Realty. Inviting bids for the sale of the properties in the reco

Need a Sebi-like regulator for social media platforms: BJP MP in RS

A SEBI-like regulatory body is needed for social media platforms to curb growing deepfakes and synthetic videos, BJP MP Sushil Kumar Modi demanded in Rajya Sabha on Thursday. Raising the issue through a Zero Hour mention, he said deepfake videos and synthetic videos are threatening democracy in the country. "There is a lot of disinformation... People don't have tools to verify," he said, adding women are soft targets of deepfakes. While an app is in circulation that can generate a nude picture of any fully dressed person, digitally altered faces of celebrities like Shah Rukh Khan are being used to promote betting platforms. "This is a new threat to democracy," Modi said, adding the government should ask social media companies to detect, remove, strengthen reporting and create public awareness about the new phenomenon. "Self regulation for social media is not sufficient. SEBI-like regulatory body needs to be set up for social media platforms," he added. While Anil Baluni of the BJ

SAT quashes Sebi order on Future Corporate Resources, Kishore Biyani

In an order issued in February 2021, the market regulator had restrained them from accessing the securities market for different periods

Sebi introduces SaaS model for clearing corps to boost business continuity

To strengthen the business continuity framework of clearing corporations for handling major software malfunctions, Sebi on Wednesday asked them to establish their critical Risk Management Systems (RMS) using a software-as-a-service (SaaS) model. RMS plays an important role in ensuring smooth and uninterrupted functioning of the securities market by carrying out online real-time risk management of trades happening on stock exchanges. Non-availability of RMS poses a major risk to the continuity of trading on stock exchanges. In the first phase, systems would be designed to provide an additional tool for business continuity in case of issues with RMS of clearing corporations, Sebi said in a circular. "In order to further manage disruptions impacting availability of RMS, it is proposed to have another contingency measure in place under Software as a Service (SaaS) model," Sebi said. The framework in the first phase would operate for existing interoperable segments of CCs -- cash marke

Streamlining the disciplinary process

There is a need for consistency in the adjudicating frameworks of Sebi and other market regulators to ensure fair financial market outcomes

Sebi tweaks norms for online resolution of disputes in securities market

Sebi on Wednesday tweaked the framework with respect to online resolution of disputes in the securities market to provide clarity on certain aspects. In its circular, the regulator has provided clarity on the online arbitration process, and arbitrator's fee, among others. The Securities and Exchange Board of India (Sebi) said that the market participant against whom the investor pursues the online arbitration will participate in the arbitration process. Accordingly, within 10 days of the initiation of the online arbitration by the investor, the market participant will make the deposit of 100 per cent of the admissible claim value with the relevant MII (market infrastructure institutions) and make the payment of the fees for online arbitration. Non-adherence to rule by market participants may result in action against them by MIIs or Sebi. In case the market participants plan to pursue online arbitration then they will have to inform the ODR (Online Dispute Resolution) institution .

SAT quashes Sebi's order against Biyani, others in insider trading case

The Securities Appellate Tribunal (SAT) on Wednesday quashed regulator Sebi's order banning Future Retail chairperson Kishore Biyani and some other promoters from the securities market for one year in an insider trading case. Dismissing the Sebi's order, the appellate tribunal said that the entities did not trade in the shares of Future Retail Ltd (FRL) on the basis of unpublished price sensitive information (UPSI) relating to demerger as such information was already in public domain through multiple media reports. "We are satisfied that the information relating to de-merger was already in the public domain and, therefore, trading done by the appellants in the shares after the publication of the interviews and news reports cannot be considered as trading while in possession of UPSI. Thus, the charge in the show cause notice fails and the findings given by the WTM cannot be sustained. The impugned order is quashed," a bench comprising Presiding Officer Tarun Agarwala and Technical ...

Sebi mandates periodic PFMIs assessment for depositories, clearing corps

Markets regulator Sebi on Tuesday asked depositories and clearing corporations to carry out self-assessment with respect to Principles for Financial Market Infrastructures (PFMIs) on a periodic basis. The issue of assessment of PFMI by Sebi-regulated FMIs (Financial Market Infrastructures) was discussed at the regulator's secondary market advisory committee, according to a circular. Based on the recommendations of the committee, Sebi said it has been "decided that FMIs shall carry out self-assessment on a periodic basis against the PFMIs and disclose the same on their websites". In this regard, the 24 principles for FMIs have been classified as "quantitative" and "qualitative". FMIs regulated by Sebi are depositories and clearing corporations. According to the circular, FMIs should be monitored and assessed against the PFMIs on annual basis by the Regulatory Oversight Committee (ROC) of the FMI. ROC should submit a report to the governing board of the FMI and Sebi within 60 days

AMCs get a revenue boost from strong retail inflows via mutual funds

Assuming 10% incremental annual inflows and market appreciation of 5-7%, AUM could continue to grow 15% in the medium term

Sebi likely to relax new disclosure norms around rumour verification

Legal experts said that as such disclosures will have a bearing on stock prices there is a need for tweaks in regulations addressing fraudulent trade practices

Sebi streamlines regulations for accredited investor registration

The market regulator said that accreditation agencies will be able to grant certification solely based on the Know-Your-Customer (KYC) and financial information of the applicants

Demat account holders can furnish nomination declarations by Jan 1, 2024

The Securities and Exchange Board of India (Sebi) stated that those who fail to do so will not be able to transact in stocks

Sebi issues warning to Care Ratings and orders corrective measures

The market regulator has advised the rating agency to take corrective steps, rectify discrepancies and submit the action taken report (ATR) to Sebi within 30 days

SAT quashes Sebi order in 'dark fibre' case, slashes penalties on NSE

Tribunal also slashes penalties levied on Chitra and Anand Subramanian

Cryogenic tank maker Inox India IPO subscribed 2.78 times on debut

The Initial Public Offer (IPO) of cryogenic tank maker INOX India was subscribed 2.78 times on the first day of subscription on Thursday. The Rs 1,459.32 crore IPO received bids for 4,30,88,606 shares against 1,54,77,670 shares on offer, according to NSE data. The category for non-institutional investors received 4.56 times subscription and Retail Individual Investors (RIIs) portion got subscribed 3.59 times. The quota for Qualified Institutional Buyers (QIBs) was subscribed 4 per cent. The IPO of up to 2,21,10,955 equity shares has a price range of Rs 627-660 a share. Inox India Ltd on Wednesday collected Rs 438 crore from anchor investors. Since the issue is completely an Offer for Sale (OFS), the Vadodara-based company will not receive any proceeds and all the funds will go to the selling shareholders. Inox India, one of the leading cryogenic tank manufacturers, has over 30 years of experience offering solutions across the design, engineering, manufacturing, and installation o

DOMS Industries IPO receives 15.16 times subscription on day two of offer

The initial share sale of pencil maker DOMS Industries received 15.16 times subscription on the second day of offer on Thursday. The Rs 1,200 crore Initial Public Offer (IPO) received bids for 13,39,90,938 shares against 88,37,407 shares on offer, according to data available with the NSE. The Retail Individual Investors (RIIs) part received 41.07 times subscription while the quota for non-institutional investors got subscribed 25.77 times. The category for Qualified Institutional Buyers (QIBs) got subscribed 1.18 times. The IPO has a fresh issue of up to Rs 350 crore and an offer for sale component of Rs 850 crore. Price range for the offer is Rs 750-790 a share. The IPO of DOMS Industries got fully subscribed within hours of opening for bidding on Wednesday and finally ended the day with 5.71 times subscription. DOMS Industries has raised Rs 538 crore from anchor investors. Funds raised through the fresh issue would be used for setting up a new manufacturing facility to expand