Page 163 - Sebi

Sebi moots ASBA-like payment system for secondary market stock trade

Proposed payment system aimed at preventing misuse of client funds by brokers

Sebi returns Lava Intl's draft IPO papers; asks to refile with updates

Capital markets regulator Sebi has returned the draft IPO papers of Lava International and asked the home-grown mobile maker to file documents again with certain updates. The move might delay the company's initial public offering (IPO). Lava International had filed draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) in September 2021 to raise funds through an initial share-sale. The proposed IPO comprises fresh issuance of equity shares worth up to Rs 500 crore and an offer for sale (OFS) component of 4,37,27,603 equity shares. The OFS consists of sale of 1.25 crore equity shares by Hari Om Rai, up to 31.35 lakh shares by Shailendra Nath Rai, up to 78.38 lakh shares each by Sunil Bhalla and Vishal Sehgal, up to 1.13 crore shares by Unic Memory Technology and up to 9.75 lakh shares by Tupperware Kitchenware. The company proposes to utilise the proceeds from the fresh issue for marketing and brand building activities, funding acquisition and ot

Innova Captab, Blue Jet Healthcare get Sebi's nod to float IPO

Pharmaceutical companies Innova Captab Ltd and Blue Jet Healthcare have received Sebi's go-ahead to raise funds through initial public offering (IPO). The two firms, which filed their preliminary papers with Sebi between June and September 2022, obtained its observation letters during January 9-11, an update with Sebi showed on Tuesday. In Sebi's parlance, its observation implies its go-ahead to launch the initial share-sale. As per the draft papers, Innova Captab's proposed IPO comprises fresh issuance of equity shares worth Rs 400 crore and an offer for sale (OFS) of 96 lakh equity shares by promoters and other shareholders. Under the OFS, Manoj Kumar Lohariwala, Vinay Kumar Lohariwala and Gian Parkash Aggarwal will sell 32 lakh shares each. Of the Rs 400 crore proposed to be raised through fresh issuance of equity shares, Rs 180.5 crore will be used for payment of debt, Rs 29.5 crore for payment of loans availed by its subsidiary UML, and Rs 90 crore for funding working capita

Crypto industry wants 0.1% TDS, Sebi-like regulator in Budget 2023

Some industry experts also suggested that gains in the crypto industry should be allowed to be offset against losses

Sebi proposes separating brokers from investors' money to avoid fund misuse

Such a move will prevent misuse of client funds, brokers' defaults and the consequent risk to investors' capital, the regulator said in a discussion paper to seek views before it finalises the rule

Sebi proposes blocking of funds facility for trading in secondary market

Capital markets regulator Sebi on Tuesday proposed to introduce a blocking of funds facility for trading in secondary markets, a move aimed at safeguarding investors' money

Sebi fines Keshav Securities for misutilising clients' securities, funds

The estimated worth of misutilised funds by the noticee was Rs 1.75 crore

Markets to shift to T+1 settlement system from January 27: Report

It would allow the buyers and sellers to get shares and money in their accounts one day after the trade takes place

Market regulator Sebi considers allowing sponsor-less mutual funds

Issues discussion paper proposing radical changes on ownership structures

Sebi mulls allowing PE funds to become sponsor of mutual fund house

The Securities and Exchange Board of India (Sebi) has sought comments from the public till January 29 on the proposals

Sebi allows virtual meetings for REITs, InVITs unitholders via video call

Capital markets regulator Sebi on Friday allowed investment managers of investment vehicles -- REITs and InvITs-- to conduct meetings of unitholders through video conferencing and other audio-visual means. The move would allow maximum participation of unitholders in the decision-making process and help in better governance. Under the rules, an annual meeting of all unitholders of real estate investment trusts (REITs) and infrastructure investment trusts (InvITs) need to be held within 120 days from the end of a financial year and the time between two meetings should not exceed 15 months. Further, managers of such investment instruments are also required to hold meetings of unitholders for certain matters. In two separate circulars, Sebi said it has decided to allow investment managers of REITs and InvITs to conduct meetings of unitholders through video conferencing (VC) and other audio-visual means (OAVM). For conducting such meetings, they need to comply with the procedure prescr

Sebi allows AIFs to participate in Credit Default Swap transactions

Further, exposure to CDS undertaken in these manner will not tantamount to leverage

Sebi bans 3 entities from securities market for insider trading activities

Sebi has slapped penalties totalling Rs 15 lakh on three entities and also barred them from the securities markets for one year for flouting insider trading rules with respect to the shares of VSL

OFCD issuance case: Sebi issues notice to Sahara Group firm, others

The notice came after the entities failed to pay the fine imposed on them by the Securities and Exchange Board of India (Sebi)

Sebi allows stock exchanges to launch multiple contracts in same commodity

Also, the stock exchanges have suggested Sebi to launch multiple contracts on same commodity to cater to all value chain participants

'Vanishing act' by more than two dozen listed cos; BSE reaches out to firms

Companies had been non-compliant with listing requirements

Sebi allows active to passive ELSS switch for asset management companies

But regulator says AMCs must shut existing active scheme before offering a passive one

Sebi imposes securities market ban on 8 entities for misusing client funds

Sebi has barred 8 entities from the securities markets for up to seven years and imposed penalties totalling Rs 11.5 crore on them in a case related to misuse and diversion of clients' funds

Videocon-ICICI loan case: SAT asks Sebi to provide documents to Kochhar

The Securities Appellate Tribunal (SAT) has asked capital markets regulator Sebi to provide certain documents pertaining to loans sanctioned by ICICI Bank to entities including Videocon Group to the private lender's former chief Chanda Kochhar. Directing Sebi to provide such documents, the tribunal said that denial of the documents sought for by the respondent (Sebi) was in "gross violation of the principles of natural justice". The matter pertains to an amended show cause notice issued by the regulator to Kochhar on the basis of an analysis of a report by retired Justice B N Srikrishna. The Srikrishna committee, which was tasked to probe the allegations of quid pro quo transactions in ICICI Bank, submitted its report to the lender in January 2019. The committee, in its report, observed that Kochhar violated bank policies and other rules and regulations. The board of the bank based on the report had decided to treat her resignation as 'termination for cause' under the bank's inter

Regulator Sebi brings OFS framework 2.0, allows exit to non-promoters

The OFS mechanism will also be available to companies with a market capitalisation of Rs 1,000 crore, Sebi said