Page 40 - Sebi

Sebi rolls out standardised format for Specialised Investment Funds

Markets regulator Sebi on Friday introduced a standardized format for applications by mutual funds intending to establish Specialized Investment Funds (SIF) in a bid to ensure uniformity and streamline the processing of such applications. Additionally, Sebi issued a detailed format for the Investment Strategy Information Document (ISID) for SIFs. The introduction of SIFs is intended to bridge the gap between mutual funds and Portfolio Management Services (PMS) in terms of portfolio flexibility. As per Sebi's guidelines, investors are required to invest a minimum of Rs 10 lakh across all SIF strategies. However, this investment threshold does not apply to accredited investors. In its circular, Sebi said that to ensure consistency and efficiency in application processing, mutual funds looking to launch SIFs are required to submit their applications in a prescribed format. Under the ISID format requirements, Asset Management Companies (AMCs) will have to disclose the performance of e

Rs 10 lakh minimum investment is per PAN, not per SIF scheme: Sebi

Market regulator says clarification ends confusion for investors allocating funds across different SIF offerings from the same fund house

Sebi chief assures of no systemic risk despite tariff-induced selloff

Pandey - who took charge of Sebi last month - touted the country's settlement system as unique where trade clearing houses of both the National Stock Exchange of India Ltd. and BSE Ltd

Sebi sets up high-level committee to review conflict of interest provisions

Former IAS & CVC Pratyush Sinha to chair the six-member high-level committee

Sebi clarifies regulatory framework for Specialized Investment Funds

Markets regulator Sebi on Wednesday clarified the regulatory framework for Specialized Investment Funds (SIF) regarding minimum investment threshold. In its circular, Sebi said, "The new rule specifies that the minimum investment by an investor in all SIF strategies should be at least Rs 10 lakh at the Permanent Account Number (PAN) level." However, this rule does not apply to mandatory investments made by asset management companies (AMCs) for designated employees. Additionally, Sebi said the rules regarding the maturity of securities in interval schemes will not apply to interval investment strategies under SIF. Before this, investments were allowed only in securities that mature before the start of the next transaction period. If the securities have put or call options, the time left to exercise the put option must end before the next transaction period begins. The new provisions come into force immediately, it added. In February, Sebi came out with the regulatory framework for

Sebi eases FPIs' disclosure norms; doubles assets threshold to Rs 50,000 cr

Easing the disclosure norms for foreign portfolio investors (FPIs), markets regulator Sebi on Wednesday doubled the asset threshold to Rs 50,000 crore for making granular beneficial ownership disclosures. The decision has been taken amid an increase in the market size. Cash equity markets' trading volumes have more than doubled between FY 2022-23 and FY 2024-25. Accordingly, it has been decided to increase the threshold under size criteria from Rs 25,000 crore to Rs 50,000 crore, the Securities and Exchange Board of India (Sebi) said in a circular. Now, FPIs (individually or as an investor group), holding more than Rs 50,000 crore of equity AUM in Indian markets are required to disclose details of all entities holding any ownership, economic interest, or control, on a full look through basis. The new framework will come into force with immediate effect, Sebi added. Last month, the board of Sebi approved a proposal in this regard. In August 2023, Sebi had directed FPIs, who were

Union AMC plans SIF, AIF, and GIFT City foray, says CEO Madhu Nair

The AMC, which manages around ₹20,000 crore in its MF schemes, has set a ₹1 trillion assets under management (AUM) target for the next 5 years

Sebi directs entities to use '1600' phone number series for service calls

With an aim to enhance investor protection and curb financial fraud, markets regulator Sebi on Tuesday directed all its regulated and registered entities to exclusively use the '1600' phone number series for service and transactional voice calls to their existing customers. This directive aims to enhance investor security by minimising the risk of fraud perpetrated by unscrupulous entities that often use regular 10-digit numbers to disguise their identities. By adopting the '1600' number series, investors will be able to easily identify and attend calls from Sebi-regulated entities, thereby reducing the chances of falling victim to financial scams. "All regulated/registered entities are advised to only use the '1600' phone number series exclusively for service and transactional voice calls to their existing customers," Sebi said in a statement. The regulator has asked investors to remain vigilant and report any unsolicited commercial communications (UCC) or suspected fraudulent ...

Sebi announces launch of official X account for updates, notifications

Markets regulator Sebi on Tuesday announced the launch of its official X account -- @SEBI_updates. Accordingly, Sebi will be posting notifications relating to regulations, orders, circulars and press releases on the handle which will also be available on the regulator's website. "For quick access to various updates from Sebi, investors, corporates, intermediaries and other stakeholders may follow @SEBI_updates," the regulator said in a statement. The new handle was officially launched on April 4, it added.

CDSL to deposit Rs 3 cr as financial disincentive for technical glitches

The depository on Tuesday stated that Sebi's directions will have no impact on its operations or other activities

Retail investors give Mazagon Dock OFS a miss; Sebi imposes fine on R-Sec

The Securities and Exchange Board of India (Sebi) on Monday imposed a penalty of ₹7 lakh on Reliance Securities for alleged lapses in complying with stock brokers regulation

Sebi fines Rs 7L on Reliance Securities for flouting stock brokers' norms

Markets regulator Sebi on Monday imposed a penalty of Rs 7 lakh on Reliance Securities for non-compliance with the stock brokers' norms. It has been directed to pay the fine within 45 months, according to an order issued by Sebi. The direction came after the Securities and Exchange Board of India (Sebi) conducted an inspection of Reliance Securities, a registered stockbroker, from December 22, 2022, to January 24, 2023, to verify whether the entity compiled the stock broking activities. In its probe, Sebi found that Reliance Securities reported incorrect details in daily margin statements sent to clients in three instances. Further, the ledger balance was wrongly reported in one instance. Additionally, the regulator noted that Reliance Securities did not comply with risk-based supervision (RBS) guidelines as data for cash collateral was not captured while reporting the RBS data. "In RBS, Noticee (Reliance Securities) declared Rs 16.13 crore to the exchange for total funds availabl

With an eye on SIF foray, PMS, AIFs queue up for mutual fund licence

Nuvama Wealth, Marcellus Investment Managers among new MF applicants

Market regulator Sebi issues framework for return verification agency

Agency will verify the claims made by investment advisors, research analysts, and algo providers

Sebi brings standardized format for system, network audit reports of MIIs

Markets regulator Sebi on Friday introduced a standardised format for system and network audit reports of market infrastructure institutions (MIIs) such as stock exchanges, clearing corporations, and depositories -- to enhance the audit efficiency. Under this, Sebi will assign unique IDs to each observation in a bid to simplify the tracking of both current and historical audit issues. This new framework aims to improve data quality, ensure compliance with regulatory requirements, and streamline the monitoring of audit observations. This will apply to audits conducted from the fiscal year 2024-25, or the second half of the fiscal year, depending on the audit frequency. "The standardized format for system and network audit report would help to increase the data quality, capture of relevant information as per regulatory requirements in a streamlined and standardized manner across MIIs, monitor compliance requirements in a more focused manner, ease of traceability of current/historical

Finideas Growth Fund, 3 others pay Rs 12.75 lakh to settle case with Sebi

Sebi observed that Finideas Growth Fund, an AIF, exceeded the permissible investment cap of 10% of its net investable funds in a single company between May 31, 2023, and July 31, 2023

Swastika Infra files papers with Sebi to raise Rs 200 cr through IPO

Swastika Infra, an EPC solutions provider in power distribution, infrastructure projects, has filed preliminary papers with markets regulator Sebi seeking its approval to raise funds through an Initial Public Offering (IPO). The Jaipur-based company's IPO is a combination of a fresh issue of shares worth Rs 200 crore and an Offer For Sale (OFS) of 19.2 lakh shares by promoters and other shareholders, according to the Draft Red Herring Prospectus (DRHP). The company is looking to mop up Rs 40 crore in the pre-IPO round, and if such placement is completed, the fresh issue size will be reduced. Proceeds from the fresh issue to the tune of Rs 145 crore have been earmarked for funding, incremental working capital requirement; besides, a portion will be used for general corporate purposes, the draft papers filed on March 30 showed. Swastika Infra is an engineering, procurement and construction (EPC) company, specialising in the execution of power distribution infrastructure projects. T

Sai Infinium files draft papers with Sebi to raise funds through IPO

Sai Infinium has filed draft papers with markets regulator Sebi seeking its clearance to garner funds through an initial public offering (IPO). The Gujarat-based company's IPO is entirely a fresh issue of 1.96 crore equity shares with no offer-for sale (OFS) component, according to the draft papers filed on Wednesday. The company plans to use funds to the tune of Rs 130 crore for setting up a 17.4-MW hybrid power plant, Rs 65 crore for the purchase of a rolling mill for mild steel (MS) structures, Rs 19 crore for buying a cargo vessel for the ship breaking plant and the remaining funds will be used for the company's general corporate purposes. Sai Infinium operates in three primary segments, manufacturing of MS (Mild Steel)billets and TMT (Thermo Mechanically Treated) bars, ship breaking and real estate in Gujarat. Its manufacturing plant produces MS billets and TMT bars from various raw materials, shipbreaking facility in Alang recycles ships, recovering metal for use in production

Sebi grants exemption to govt from open offer in beleaguered Voda Idea

Following the decision to convert spectrum dues into equity stake in the company, the shareholding of the government will surge to 48.99 per cent in Vi

Sebi exempts government from open offer obligation in Vodafone Idea deal

Markets regulator Sebi on Thursday exempted the government from making an open offer to the shareholders of Vodafone Idea Ltd (VIL) following its proposed acquisition of just over 34 per cent stake in the telecom operator on the conversion of spectrum dues into equity. In its order, Sebi Whole Time Member Ashwani Bhatia said, "The acquisition of shareholding by GoI in VIL is proposed with the sole intent of protecting the larger public interest." The conversion -- which would raise the government's holding in the company to nearly 49 per cent from 22.6 per cent at present -- would enable VIL, a major TSP, to continue servicing its customer base and increasing telecom penetration in India. While giving exemption, Sebi noted that at present GoI has no intent to participate in the management or the board of VIL and there will be no change in control of the telecom firm. Further, such holding will be classified as public shareholding. Last month, the government threw a lifeline to the