Page 39 - Sebi

GNG Electronics IPO gets Sebi nod; seeks to raise ₹450-cr via fresh issue

GNG Electronics IPO comprises a fresh issue of equity shares aggregating up to 450 crore, along with an OFS of up to 5.1 million equity shares

Sebi proposes ED roles, new norms to strengthen governance at MIIs

The regulator has proposed appointing two executive directors to MII boards for regulatory compliance and operations, with defined roles distinct from the MD

Tata Capital gets Sebi nod for $2 bn IPO, likely India's biggest in 2025

The approval clears the way for the company to incorporate feedback from the regulator into its prospectus, before it starts marketing the deal

Best of BS Opinion: Startups get a boost, higher education needs a leg-up

From Sebi's bold moves to the crisis in higher education, sustainability in rice farming to Iran's nuclear ambitions, today's pieces touch upon key issues that policymakers must grapple with

Attractive listing: Sebi eases IPO, delisting norms for startups, PSUs

The clarifications regarding the issuance of employee stock ownership plans (Esops) in startups have brought relief to founders

Sebi bans two from markets for 3 yrs; impounds illegal gains of ₹4.83 cr

Markets regulator Sebi has barred two individuals from the securities markets for three years and impounded illegal gains of over Rs 4.83 crore made by them for orchestrating a fraudulent scheme using out of the money (OTM) stock options to misappropriate funds from investors. Apart from the securities market ban, the regulator also slapped a penalty of Rs 25 lakh each on Shivprasad Pattiya and Alkesh Narware and directed them them to pay the fine within 45 days, Sebi said in the order passed on Friday. Further, Sebi directed Pattiya and Narware to disgorge unlawful gains worth Rs 4.83 crore with an interest of 12 per cent per annum jointly and severally from February 2022. In the final order, Sebi found that the front entities had opened the trading accounts under the instructions of the operator group (Shivprasad Pattiya and Alkesh Narware) and these trading accounts and bank accounts were under the control of the operator group. Sebi observed that the caller group had identified

Sebi fines IAGF, trustee and managers ₹29 lakh for AIF rule breaches

Capital markets regulator Sebi has imposed penalties totalling Rs 29 lakh on six entities, including India Asset Growth Fund, its manager Essel Finance Advisors and Managers, and trustee Vistra ITCL (India) for multiple violations of AIF rules. The regulator levied a fine of Rs 11 lakh on IAGF, Rs 10 lakh on Arpan Sarkar and Jaykishan Kikani (jointly and severally), Rs 6 lakh on Vistra ITCL (India), and Rs 2 lakh on Essel Finance Advisors and Managers (EFAM), its Chief Executive Officer Vishnu Prakash Rathore (jointly and severally). The regulator, in a 39-page order, found the entities guilty of serious lapses in regulatory compliance during the inspection period from April 2021 to March 2022, Sebi said in the order on Friday. The markets watchdog observed that India Asset Growth Fund (IAGF) failed to disclose disciplinary actions and litigation history of its sponsor, manager, trustee, and key officials in its placement memorandum (PPM), as mandated under the norms. Later, the fu

Sebi plans overhaul of mutual fund rules to aid investors and industry

The Securities and Exchange Board of India (SEBI) is undertaking a comprehensive review of mutual fund regulations to make them more investor-centric and industry-friendly, a senior official said on Saturday. "We are reviewing the entire mutual fund regulatory framework to enhance ease of doing business for all stakeholders, including the regulator," SEBI executive director Manoj Kumar said at the 17th Mutual Fund Summit organised by the Indian Chamber of Commerce (ICC) here. Existing regulations governing the sector are among the lengthiest and require simplification to keep pace with evolving investor needs and industry innovations, stakeholders said. "The process has started and soon we will come out with draft regulations for feedback and consultation process before it is finalised," Kumar said without giving any timeline for the rollout of the new rules. Kumar outlined the regulator's strategic roadmap to strengthen India's securities market, with mutual funds positioned as a

Sebi proposes rules to govern AI, ML tools used by market participants

Sebi's draft guidelines aim to ensure safe, fair, and transparent use of AI and ML by exchanges, brokers, and mutual funds, with provisions for oversight, testing and privacy

Sebi to unbundle clearing and trading fees to boost transparency

Sebi forms working group to examine separation of clearing and trading fees, aiming to improve transparency, ensure CC sustainability and address governance issues

'Much-needed relief': Startups on Sebi reforms relaxing ESOP norms

The ease in norms from the Securities and Exchange Board of India (Sebi) comes at a time when multiple Indian startups such as PhonePe, Zepto, Pine Labs

Sebi allows IAs, RAs to use MFs, overnight funds to meet deposit norms

Markets regulator Sebi has allowed Investment Advisers (IAs) and Research Analysts (RAs) to use liquid mutual funds and overnight funds as an additional option to the bank fixed deposit to meet their deposit requirements. This would provide IAs and RAs an additional option, along with bank fixed deposits, to comply with regulatory requirements and help in promoting ease of doing business. Under the current rule, IAs and RAs are required to maintain a deposit with a scheduled bank. Such a deposit is required to be lien-marked to the Administration and Supervisory Body (ASB) for IAs and RAs. IAs and RAs, through their associations, have represented that they are facing certain operational difficulties in opening the FD accounts, such as non-uniform interpretation of third-party FD procedures across different bank branches and lien marking of the same in favour of ASB. They suggested that as an alternative to FD, units of a liquid mutual fund lien marked in favour of ASB may also be ..

Capillary Technologies India files DRHP with Sebi, aims to raise ₹430 crore

Capillary Technologies India IPO consists of a fresh issue of equity shares aggregating to ₹430 crore and an OFS of 18.33 million shares

Reverse-flipping and startup IPOs get boost as Sebi relaxes norms

Sebi allows ESOP, convertible security holding at DRHP stage, relaxes PSU delisting, FPI norms; proposes fee transparency, simplifies documents for investors

Sebi clears reforms to ease business for REITs, InvIT structures, bankers

Markets regulator Sebi board on Wednesday approved measures to enhance the ease of doing business for the activities of Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs). Also, Sebi has permitted merchant bankers to carry out activities falling outside the purview of the regulator under the same firm. This is subject to certain conditions. Regarding approved regulatory framework for REITs and InvITs, Sebi said that the related parties of the REIT/InvIT and the related parties of the sponsor, investment manager/manager, and project manager would not be considered as "public" unless such related parties are Qualified Institutional Buyers (QIBs). Moreover, they would always be excluded from the "public" category irrespective of their status as QIBs. The board approved several matters that will result in amendments to the REITs as well as and InvITs Regulations 2014. Prior to this amendment, any units held by the related parties of the sponsor, ...

Upcoming IPO: PNGS Reva Diamond Jewellery files DRHP with Sebi; details

PNGS Reva Diamond Jewellery aims to raise ₹450 crore through the public offering, which comprises an entirely fresh issue of equity shares with a face value of ₹10 apiece

Sebi unveils settlement scheme for NSEL brokers facing regulatory action

Markets regulator Sebi on Wednesday announced the introduction of a settlement scheme for certain stock brokers, who traded on the National Spot Exchange Ltd (NSEL) platform. This long-awaited move is expected to bring major relief to traders whose funds have been stuck since the NSEL payment crisis in July 2013. In a press release after its board meeting, Sebi said the scheme is for those stock brokers against whom enforcement actions have been initiated by the regulator. By opting for the scheme, these brokers will have an opportunity to resolve pending proceedings and bring them to an expedited conclusion. The Sebi board also cleared significant reforms to boost investment activity through Alternative Investment Funds (AIFs). It approved a proposal to allow Category I and II AIFs to offer co-investment schemes under the AIF regulations. This will further facilitate AIFs and investors to co-invest and support capital formation in unlisted companies through AIFs. Under the newly

Sebi eases ESOP rules for startup founders ahead of IPO plans

The move addresses a long-standing concern under existing rules, which bar promoters from holding share-based benefits like ESOPs and require them to liquidate such holdings before the IPO

Initial review of IndusInd and Gensol to be over in 6 months: ICAI

ICAI's FRRB reviewing financials of IndusInd Bank and Gensol Engineering; summit series planned; early warning signs of fraud under review with Sebi and NSE

Sebi proposes allowing all KYC agencies to act as accreditation bodies

Markets regulator Sebi on Wednesday proposed that all KYC registration agencies should be eligible to function as accreditation agencies, which is currently restricted to subsidiaries of stock exchanges and depositories. Additionally, it has been proposed to facilitate the onboarding of accredited investors based on first-level due diligence by the manager of an AIF. The Securities and Exchange Board of India (Sebi) has sought public comments till July 8 on the proposals. In its consultation paper, Sebi has proposed that "eligibility criteria for accreditation agencies may be expanded such that all KRAs (KYC registration agencies) are eligible to function as accreditation agencies, as against only the subsidiaries of stock exchange and depositories as per current eligibility". Under the current regulatory framework, only subsidiaries of stock exchanges (with certain conditions) and depositories are eligible to become an accreditation agency. Presently, there are two accreditation .