Page 153 - Sebi

IPO filings halve in FY23 as outlook for new share sales worsens

Industry players said the IPO market has taken a turn for the worse after a blockbuster FY22 amid fall in valuations

Stock exchanges freeze promoter shareholding of Patanjali Foods

Action after co fails to meet 25% public float

Rockstud Capital launches Rs 300 cr fund for upcoming Indian start-ups

It will invest in 25 start-ups focused on digitalisation, sustainability, financial inclusion

No govt committee to probe Adani Group: Minister Pankaj Chaudhary

A separate investigation into imports of Indonesian coal by the conglomerate hasn't reached finality, Minister of State for Finance Pankaj Chaudhary said

Unlocking Rs 100 trillion opportunity: What lies ahead for MF industry

The mutual fund industry is expanding distribution reach, simplifying products and leveraging technology in a bid to more than double assets under management

Sebi relief for large registrars on enhanced reporting requirements

Markets regulator Sebi on Monday provided relaxation of 60 days to large Registrars to an issue/ Share Transfer Agents (RTAs) from complying with the enhanced requirements pertaining to periodic reporting. Under the rules, QRTAs or qualified RTAs are required to comply with enhanced responsibilities through adoption and implementation of an internal policy framework and periodic reporting requirements. In a circular, Sebi clarified that an RTA would be categorised as QRTA if at any time during a financial year, the combined number of physical and demat folios being serviced by the RTA for listed companies exceeds 2 crore. In case of the categorisation as a QRTA, an intimation needs to be sent by the RTA within five working days to Sebi. Further, it said that an RTA will be considered as a QRTA from the date of categorisation as a QRTA and will be considered as such for the next 3 financial years, irrespective of subsequent fall in number of folios and will be liable to comply with

PNB Housing Finance's Rs 2,500 crore rights issue gets Sebi's nod

PNB Housing Finance, an arm of state-owned Punjab National Bank, has received capital markets regulator Sebi's go ahead to raise up to Rs 2,500 crore through rights issue of shares. The housing finance firm, which had filed draft papers with Sebi in December 2022 regarding the rights issue, obtained its 'observations' on March 6, which is necessary for any company to launch the issue, an update the markets regulator showed on Monday. Going by the draft papers, PNB Housing will issue fully paid-up equity shares of the company by way of a rights issue to its existing shareholders for an amount not exceeding Rs 2,500 crore. The company intends to utilise the net proceeds from the issue towards augmenting its capital base. Post the rights issue, the shareholding of Punjab National Bank (PNB) as a promoter of the company would come down from the current level of 32.53 per cent to below 30 per cent but it would be higher than 26 per cent so that the bank retains promoter status. In Marc

Govt has not set up any committee to probe Adani Group, says minister

The government has not set up any committee to probe allegations a US short seller labelled against the Adani Group, but stock market regulator SEBI is investigating market allegations against the group, the Lok Sabha was informed on Monday. A separate investigation into imports of Indonesian coal by the conglomerate hasn't reached finality, Minister of State for Finance Pankaj Chaudhary said. Lok Sabha saw several questions being put by MPs to the government on the Adani issue, which were replied through written responses by the minister. To a question asking if the government had constituted any committee to investigate allegations made against the Adani group by Hindenburg Research, he said, "No". In the January 24 report, US short seller Hindenburg Research alleged that the Adani group was "engaged in a brazen stock manipulation and accounting fraud", and used offshore shell companies to inflate stock prices. The group has denied all Hindenburg allegations, calling them ...

Sebi to auction 66 properties of Saradha Group on April 11 to recover money

Markets regulator Sebi on Monday said it will auction 66 properties of Saradha Group on April 11 at a reserve price totalling Rs 32 crore to recover money raised by the firm from the public through illicit schemes. The properties to go under the hammer include land parcels located in West Bengal, the Securities and Exchange Board of India (Sebi) said in a notice. The regulator said that the e-auction will be conducted between 11 am and 1 pm on April 11, 2023. The total reserve price of these properties is pegged at about Rs 32 crore. Sebi has engaged Quikr Realty to assist it in sale of the properties and appointed C1 India as the e-auction provider. The development came after the Calcutta High Court passed an order in June 2022, whereby it directed Sebi to proceed with the auction of properties of Saradha Group of Companies. The entire exercise was directed to be completed within three months. Saradha Group, a consortium of over 239 private companies, allegedly ran chit fund ...

Sebi investigating market allegations against Adani Group: MoS Finance

Regulator Sebi is investigating market allegations against Adani group, whose 9 listed companies saw a 60 per cent decline in their market capitalisation between January 24 and March 1, Parliament was informed on Monday. Minister of State for Finance Pankaj Chaudhary said in the Lok Sabha that the volatility in the stocks of these companies have not had any significant impact at the systemic level. Nifty 50 declined by around 4.5 per cent during the same period. The Securities and Exchange Board of India (Sebi), as the statutory regulator of securities markets, is mandated to put in place regulatory frameworks for effecting stable operations and development of the securities markets including protection of investors. As per its mandate, it conducts investigations into any alleged violations of its regulations by any market entity, he said. "It is, accordingly, undertaking investigation into the market allegations against the Adani Group of companies. The nine listed companies formi

Top headlines: Adani-Hindenburg saga continues, SVB crisis, and more

Business Standard brings you the top headlines at this hour

Adani-Hindenburg saga: Over dozen involved in short-selling under Sebi lens

Fund source, disclosures being examined

Angel tax relief likely for Sebi-enrolled FPIs; rules expected by April 15

The angel tax is on the amount received as more than fair market value as income in the hands of a company

Sebi resolves 2,672 complaints through SCORES platform in February

A total of 2,672 complaints against companies and market intermediaries received through capital markets regulator Sebi's SCORES platform were disposed of in February, according to Sebi data. At the beginning of February, as many as 2,603 complaints were pending and 2,321 fresh complaints were received during the month, the data released by Sebi on Friday showed. These complaints were related to refunds, allotment, redemption and interest, among others. The regulator noted that there were seven complaints as of February 2023, which were pending for more than three months. These complaints were related to research analyst, investment adviser, corporate governance/ listing conditions, non-demat, remat and transfer/dividend/rights/redemption. The average resolution time for a complaint is 30 days, it added. In a separate public notice, Sebi mentioned six entities against whom complaints have been pending for more than three months on SCORES as of February 2023. These are Grovalue ..

Sebi revokes securities market ban on 8 former promoter entities of DHFL

Sebi on Friday revoked the securities market ban imposed on eight former promoter entities of Dewan Housing Finance Ltd (DHFL) in a case pertaining to alleged fraudulent financial transactions. Also, the regulator said the investigation in the matter had been completed and thereafter it initiated quasi-judicial proceedings against Kapil Wadhawan, Dheeraj Wadhawan, Rakesh Kumar Wadhawan and Sarang Wadhawan who were the other four former promoters of DHFL (now known as Piramal Finance). The eight former promoter entities are -- Aruna Wadhawan, Malti Wadhawan, Anu Wadhawan, Pooja Wadhawan, Wadhawan Holdings Pvt Ltd, Wadhawan Consolidated Holdings Pvt Ltd, Wadhawan Retail Venture Pvt Ltd and Wadhawan Global Capital Ltd (formerly known as Wadhawan Housing Pvt Ltd). The entities are collectively referred to as noticees. In its fresh order, Sebi's Whole Time Member Ashwani Bhatia said, "I note that the investigation in the matter has now been completed, and quasi-judicial proceedings are

10,980 entities avail Sebi's scheme to settle alleged manipulation cases

A total of 10,980 entities settled the cases pertaining to alleged manipulation of illiquid stock options at BSE with Sebi under the settlement scheme 2022, the markets regulator said on Friday. Sebi introduced the settlement scheme 2022 to provide a one-time opportunity to the entities against whom proceedings were initiated, and appeals against the proceedings are pending before any forum or authority. This came after the Securities Appellate Tribunal (SAT) passed an order in May 2022 on the matter of illiquid stock options. The scheme was initially kept open for a period of three months from August 22 to November 21 and it was later extended till January 21, 2023, considering the interest of a large number of entities to avail the scheme. "A total of 10,980 entities availed the benefit of the scheme and remitted the specified settlement amount respectively," the Securities and Exchange Board of India (Sebi) said. While most of the entities paid either Rs 1 lakh or Rs 2 lakh as

Tata Technologies submits IPO papers with Sebi to raise capital via OFS

Currently, Tata Motors holds 74.42 per cent stake in Tata Technologies, while Alpha TC Holdings which is a singapore-based investement firm managed by Tata Capital Advisors owns 8.96 per cent

TMS Ep386: Crypto under PMLA, SEBI on PCVs, power stocks, sovereign default

Will the money laundering Act spell death for crypto in India? Why does India not have its own Warren Buffet? Will rising temperatures ignite power stocks? What is sovereign default? All answers here

Sebi disposes of show cause notices against 22 individuals in Titan Case

Capital markets regulator Sebi on Thursday disposed of show-cause notices issued against 22 individuals as the allegation of violation of insider trading rules was not established in Titan Company Ltd (TCL) case. The order came after the Securities Appellate Tribunal (SAT) in its ruling on February 7 had set aside Sebi's order against 22 individuals for violating insider trading norms in the shares of TCL and directed the regulator to pass a fresh order. In its latest order, Sebi said the 22 individuals (noticees) were "not designated employees" of the company and therefore, were not obligated to make disclosures under the PIT (Prohibition of Insider Trading) norms. Therefore, the adjudication proceedings against the noticees initiated through show-cause notices dated August 9, 2021 stand disposed of without imposition of any penalty, it said. In the matter, Sebi had initiated adjudication proceedings against the individuals for alleged violation of PIT norms in the scrip of Titan

Sebi announces reward mechanism for informants providing tips on defaulters

With an aim to recover fines from elusive offenders, capital markets regulator Sebi on Thursday introduced a reward system for up to Rs 20 lakh to informants for sharing information about the assets of defaulters. The reward may be granted in two stages -- interim and final. While the interim reward amount will not exceed two and a half per-cent of the reserve price of the asset regarding which tips was provided or Rs 5 lakh, whichever is less and the final reward amount will not exceed 10 per cent of the dues recovered or Rs 20 lakh, whichever is less. Coming out with guidelines on grant of reward to an informant who provides credible information about the assets of the defaulter under recovery proceedings, Sebi said, "information and the identity provided by the informant or the reward paid to him shall be held in confidence." As per Sebi, a person will be considered to be an informant eligible for reward if he or she furnishes original information in relation to the asset of a .