Page 150 - Sebi

Five IPOs get Sebi go-ahead to raise up to Rs 3,000 cr collectively

The approvals come at a time when capital raising by way of IPOs has slowed to a crawl, with only four issues hitting the market so far this calendar year

ESAF SFB to refile IPO prospectus with Sebi; eyes listing in H2 of FY24

Pegs capital need at Rs 1,000 cr for three years

Sebi takes slew of measures to crack down on misleading investment ads

Bars usage of superlative terms, projections, past performance and in some cases even comparisons

Increasing efficiency

Lower compliance will help expand the reach of passive funds

Sebi's MF Lite plank for passive funds seen boosting India ETF landscape

Industry experts say it could help attract global players

Sebi to probe Adani offshore deals for possible rule violations: Report

The three entities allegedly entered into several investment transactions with unlisted units of the ports-to-power conglomerate founded by billionaire Gautam Adani over the last 13 years

Aeroflex Industries files draft papers to raise Rs 350 crore through IPO

Stainless steel flexible hose manufacturer Aeroflex Industries Ltd has filed draft papers with capital markets regulator Sebi to mobilise Rs 350 crore through an initial share-sale. The initial public offering (IPO) consists of a fresh issue of equity shares worth up to Rs 160 crore and an offer-for-sale (OFS) of up to 1.75 crore equity shares by promoter entities -- Sat Industries and Italica Global FZC, according to the draft red herring prospectus (DRHP). The OFS comprises sale of 1.23 crore shares by Sat Industries Ltd and up to 52 lakh shares by Italica Global FZC. At present, Sat Industries owns 92.18 per cent stake in the company, while Italica Global FZC holds 6.52 per cent stake. Proceeds from the fresh issue will be utilised to the extent of Rs 35 crore for the payment of debt, Rs 84 crore for funding its working capital requirements, and a certain amount will be used for general corporate purposes and acquisitions for inorganic growth. According to merchant banking sour

Complying with Sebi's new rules will be challenging, onerous: AIF industry

Some believe alternative investment funds may face teething issue but the regulatory changes will eventually improve governance

IRB Infrastructure Trust lists on National Stock Exchange after Sebi's nod

IRB Infrastructure Trust, a privately placed infrastructure investment trust (InvIT) sponsored by IRB Infrastructure Developers Ltd, on Monday listed on the National Stock Exchange. IRB Infrastructure Trust in a statement said that the Trust has become the first private InvIT listed on the National Stock Exchange after the regulator SEBI's guidelines on listing framework for the non-listed InvITs came into force a few months ago. The chairman of the IRB Infrastructure Trust and chairman and managing director of the sponsor IRB Infrastructure Developers Ltd, Virendra D. Mhaiskar, said in the last four years the project portfolio of the Trust has made stupendous progress and has achieved a size of almost Rs 27,000 crore Enterprise Value with balance concession life of 18 plus years. This development platform of IRB with marque investor like GIC - sovereign wealth fund of Singapore will create immense value for the whole IRB group and provide strong growth potential going forward, he

Street Signs: Covid trot to winning run, Avalon Tech's premium, and more

Banking stocks outperformed in the just-concluded financial year (2022-23), with the sectoral gauge gaining 12 per cent, against a 0.6 per cent decline in the benchmark National Stock Exchange Nifty

Sebi bans 3 people for 2 yrs; fines Rs 90 lakh in ZEEL insider trading case

Sebi has barred three individuals from the securities market for two years and imposed penalty totalling Rs 90 lakh on them in a case pertaining to insider trading activities in the scrip of Zee Entertainment Enterprises Ltd (ZEEL). The three individuals banned by the regulator -- Bijal Shah, Gopal Ritolia and Jatin Chawla -- have also been directed to pay the fine within 45 days. In addition, Ritolia and Chawla have been directed to disgorge illegal gains to the tune of Rs 7.52 crore and Rs 2.09 crore respectively along with interest, the regulator said in its 152-page final order on Friday. The case relates to insider trading activities by certain entities in the scrip of ZEEL, while in possession of unpublished price sensitive information (UPSI) pertaining to audited financial results of the media company for the quarter ended June 30, 2020 as well as launch of ZEEPLEX by the company on September 1, 2020. Bijal Shah, who was head of the financial planning and analysis, strategy

Sebi probing some Adani offshore deals for possible rule violations: Report

The three entities allegedly entered into several investment transactions with unlisted units of the ports-to-power conglomerate founded by Gautam Adani over the last 13 years, the report said

Weekend Bites: Google, Sebi, fraud accounts, and a new Space Odyssey

In which we munch over the week's platter of news and views

Oyo pre-files DRHP with Sebi, cuts issue size to $400-600 million

The DRHP was filed under the confidential pre-filing route with a reduced issue size of $400-600 million, all of which will be raised through a primary issuance, in a bid to repay the firm's debt

Sebi imposes Rs 1.55-cr fine on 23 entities for flouting regulatory norms

Capital markets regulator Sebi on Friday imposed fines totalling Rs 1.55 crore on 23 entities for violating regulatory norms in the matter of trading by certain entities in mentha oil futures contracts at Multi Commodity Exchange (MCX). The regulator slapped a fine in the range of Rs 1 lakh to Rs 10 lakh on 23 entities. The order came after MCX had observed that certain entities are connected with North End Foods Marketing (NEFM) and on the basis of funding from NEFM they were holding more than 75 per cent of the total exchange deliverable stock of mentha oil held in the exchange. Further, MCX submitted its observations to Sebi in June 2018 and conducted a detailed examination to find out whether certain connected entities intended to corner the market on long side in mentha oil contracts thereby violating the position limits as prescribed by the regulator. In its order, Sebi's Adjudicating Officer Vijayant Kumar Verma said, "I find that Noticee 3 to Noticee 21, through a premedita

Sebi imposes Rs 5 lakh fine on Venugopal Dhoot for disclosure lapses

Sebi on Friday imposed Rs 5 lakh fine on Videocon Group Founder Venugopal Dhoot for not making disclosures about his interest in Supreme Energy as well as for not disclosing that Quality Techno Advisors Pvt Ltd (QTAPL) and Credential Finance Ltd (CFL) were related parties with respect to certain transactions. The order came after Sebi conducted an examination following media reports published in March 2018 regarding certain 'quid pro quo' arrangements between Venugopal Dhoot and former Managing Director and Chief Executive Director of ICICI Bank Ltd Chanda Kochhar in lieu of grant of certain credit facilities by ICICI Bank to some entities belonging to the Videocon Group. The scope of the examination was specifically to ascertain whether Dhoot violated the provisions of LODR (Listing Obligations and Disclosure Requirements) rules and provisions of listing agreement in respect of the submissions that were required to be made by Videocon Industries to the stock exchanges. In its order

Market regulator Sebi slaps show-cause notice on Royal Orchid Hotels

Sebi has provided a period of 21 days to the company, promoters CK Baljee and Keshav Baljee, and CFO Amit Jaiswal to file their reply or objections

Markets regulator Sebi cancels registration of 3 brokers in NSEL case

Markets regulator Sebi on Friday cancelled the registration of three brokerage houses for facilitating its clients to trade on the platform of the now defunct National Spot Exchange Ltd (NSEL) in illegal 'paired contracts'. The brokerage houses, whose registrations were cancelled, are Paterson Commodities, Blue Crest Commodities and Fair Intermediate Products. In three separate orders, Sebi found that these entities have either participated or facilitated the trading in 'paired contracts' on the NSEL platform. By providing such a facility, they exposed their clients to the risk involved in trading in a product that did not have regulatory approval. The acts by the brokers raised doubts about their competence to act as registered securities market intermediaries, the orders noted. As per the order, Fair Intermediate Products started trading in the alleged paired contracts in 2012 after 3 years from the date on which NSEL launched these contracts in September 2009. Accordingly, the

Centre authorises SBI to issue electoral bonds between April 3-12

The State Bank of India (SBI) has been authorised by the government to issue and encash electoral bonds through its 29 authorised branches across the country from April 3 till April 12.

Compliance period extended from 2 to 3 yrs for 'large corporates': Sebi

Capital markets regulator Sebi on Friday extended the compliance requirement to three years for 'large corporates' to raise at least 25 per cent of their incremental borrowings through debt securities to a contiguous block from two years at present. This comes after the board of Sebi approved a proposal in this regard on Wednesday. Currently, the rules mandate large corporates to mobilise a minimum of 25 per cent of their incremental borrowings in a financial year through the issuance of debt securities which has to be met over a contiguous block of two years. In a circular, Sebi "decided that the contiguous block of two years over which large corporates need to meet the mandatory requirement of raising minimum 25 per cent of their incremental borrowings in a financial year through issuance of debt securities will be extended to a contiguous block of three years (from the present requirement of two years) reckoned from FY 2021-22 onwards." In case a large corporate is unable to com