Page 40 - Sebi

Sebi asks portfolio managers to remove exaggerated advertisements

In a letter sent to the association of portfolio managers, Sebi directed them to adhere to the code of conduct

Block deal window: Sebi unlikely to revise rules despite elusive deals

Narrow price band of 1% hinders deal execution

Sebi bans Sanjiv Bhasin, 11 others for stock manipulation, fraudulent gains

Sebi on Tuesday barred Sanjiv Bhasin, a former director at IIFL Securities, and 11 others from the securities markets for indulging in share manipulation in a case pertaining to providing stock recommendations on media channels and other social media platforms. Additionally, Sebi directed them to disgorge ill-gotten gains of Rs 11.37 crore. In its 149-page interim order, Sebi noted that Bhasin was a well-known media guest expert with a huge following on social media. While associated with IIFL as a director or consultant, Bhasin provided stock recommendations through media channels, Telegram, and IIFL platforms. Sebi's investigation revealed that prior to his appearances on media channels, Bhasin would take positions -- primarily buy orders-- in the trading accounts of Gemini Portfolios, Venus Portfolios, and HB Stock Holdings Ltd through dealers of the trading member RRB Master Securities Delhi Ltd. Given the significant viewership of these channels, his stock recommendations had

Sebi nod for Tuesday, Thursday expiry of derivatives contracts on NSE, BSE

Leading stock exchange BSE announced that markets regulator Sebi has granted Thursday as the expiry day for equity derivatives contracts. "Sebi has agreed to the expiry day proposed by BSE (i.e. Thursday). Since there would be a change in the expiry day of derivatives contracts from the present (Tuesday)," BSE said in a circular on Tuesday. This comes after Sebi last month announced expiries of all equity derivatives contracts across exchanges will be uniformly limited to Tuesdays or Thursdays. This was aimed at optimising the spacing between expiries and avoid designating, either the first or last day of the week as the expiry day. Also, Sebi had asked exchanges to seek its approval before launching or modifying any contract expiry or settlement day.

Sunshine Pictures, Lumino, M&B Engineering secure Sebi nod for IPOs

Film and television producer-director Vipul Shah-backed Sunshine Pictures, Lumino Industries and M&B Engineering have received Sebi's go-ahead to raise funds through initial public offerings (IPOs), an update with the markets regulator showed on Tuesday. The three firms, which filed their preliminary IPO papers with Sebi during January-February, obtained their observations between June 9 and June 13. In Sebi's parlance, obtaining observations means its go-ahead to float the public issue. As for the Sunshine Pictures issue, its IPO comprises a total offer size of 83.75 lakh equity shares, including a fresh issue of 50 lakh shares and an Offer-for-Sale (OFS) of 33.75 lakh shares by promoters, according to the draft red herring prospectus (DRHP). Promoter Vipul Amrutlal Shah is proposing to sell 23.69 lakh shares, while Shefali Vipul Shah plans to offload 10.05 lakh shares. The company plans to utilise the proceeds from the fresh issue to meet its long-term working capital ...

Sebi board likely to discuss regulatory reforms at Wednesday meeting

Markets watchdog Sebi's board is likely to discuss a series of regulatory reforms during its upcoming meeting on Wednesday. Several of these proposals have already been floated for public consultation, indicating a broader push towards refining the regulatory landscape. This would mark the second board meeting under the chairmanship of Tuhin Kanta Pandey, who assumed office on March 1. One of the key agenda items is the simplification of rules and regulatory compliance for Foreign Portfolio Investors (FPIs) investing exclusively in Indian Government Bonds (IGBs) through the Voluntary Retention Route (VRR) and the Fully Accessible Route (FAR). This move is aimed at attracting more long-term bond investors to the Indian market, people aware of the development said. Currently, foreign investors can invest in Indian debt through three routes-- General, VRR, and FAR. The VRR and FAR routes are comparatively liberal, as they allow investments without many of the restrictions, such as ...

Sebi proposes periodic disclosure mandate for securitised debt issuers

Sebi on Monday floated a consultation paper mandating special purpose distinct entities and their trustees to submit detailed half-yearly disclosures on securitised debt instruments to the regulator and stock exchanges. The move is part of Sebi's efforts to improve transparency and investor protection in the securitisation market. The proposed circular mandates that SPDIs and their trustees furnish detailed disclosures on a half-yearly basis to Sebi and stock exchanges, where SDIs are listed, within 21 days from the end of March and September. These disclosures will cover the performance, structure, and credit quality of underlying assets supporting securitised instruments. According to the draft guidelines, disclosures would differ based on the nature of the securitised assets. For SDIs backed by loans, listed debt securities or credit facilities, the trustees must report data on asset maturity profiles, overdue exposures, prepayment rates, recovery actions, loan-to-value ratios,

Waterways Leisure Tourism files DRHP for ₹727 crore IPO; check details here

Waterways Leisure Tourism IPO is entirely a fresh issue of shares up to ₹27 crore with no offer for sale (OFS) component

More relaxations on cards in Tuhin Kanta Pandey's second Sebi board meet

FPIs investing g-secs to get easier; voluntary delisting for low-float PSUs; facilitating co-investments in AIFs

Sebi resolves over 4,400 complaints through SCORES portal in May

Capital markets regulator Sebi resolved 4,493 investor complaints through its online grievance redressal platform SCORES in the month of May. The regulator received 4,793 fresh complaints in the month and a total of 4,563 complaints remained unresolved at the end of May, slightly higher than the 4,263 complaints that were pending as of April 30, the Securities and Exchange Board of India (Sebi) said in a public notice on Friday. The regulator also highlighted that the average resolution time taken by the entities to submit the Action Taken Reports (ATRs) in May was eight days, while the average time taken for complaints under First Level Review was five days. SCORES, or Sebi Complaint Redressal System, is an online platform which facilitates investors in lodging and tracking complaints against listed companies and registered intermediaries. Under the SCORES 2.0 mechanism, complaints are automatically forwarded to the respective entities, which are required to respond within 21 days

Sebi WTM raises concerns on valuation of assets, calls for CFO vigilance

At the ETCFO NextGen Summit, Sebi's Ananth Narayan urges CFOs to ensure transparency in asset valuation, warning that broken trust can severely damage capital markets

Sebi urges CFOs to shorten gap between results and annual reports

Narayan pointed out the rapid growth of India's securities market ecosystem, which has expanded from 4.2 crore unique investors in March 2020 to 13 crore at present

Rayzon Solar to file draft papers with Sebi for Rs 1,500 crore IPO

Solar panel manufacturer Rayzon Solar Ltd is planning to file its draft papers with markets regulator Sebi by the end of the month, as it prepares for about Rs 1,500-crore initial public offering (IPO), people familiar with the plan said on Friday. The Surat-based company has already roped in top investment banks to manage the public offering. According to the people familiar with the plan, the company is looking to raise funds through fresh issuance of equity shares and proceeds are expected to be used for for its expansion plans. An email to Rayzon Solar seeking confirmation of the draft papers filing and IPO details did not elicit a response. The company is considering to enter the public market at a time when the domestic solar manufacturing industry is gaining traction, driven by import curbs, and rising global interest in non-China supply chains. Founded in 2017, Rayzon Solar has emerged as one of the fastest-growing solar PV module manufacturers in the country. As per its .

Curbing frauds: Sebi brings more checks for investors via valid UPI handle

Investors will be able to authenticate if the entity receiving the payment is a valid entity under the ambit of Sebi

Sebi mandates minimum two yearly PAC meetings for commodity exchanges

Markets regulator Sebi on Thursday directed stock exchanges with commodity segments to ensure their Product Advisory Committees (PACs) meet at least twice a year, or more frequently if necessary. However, in the case of agricultural commodities, the PAC is required to meet at least once annually. Sebi's 'Master Circular for Commodity Derivatives Segment' in August 2023 issued various compliance requirements for stock exchanges and clearing corporations operating in the commodity derivatives segment. As per the Master Circular, each stock exchange is mandated to constitute a Product Advisory Committee for every group or complex of commodities that share common stakeholders or value chain participants, and on which derivatives are either currently traded or proposed to be introduced. Based on representations from market participants and following deliberations by Sebi's Commodity Derivatives Advisory Committee (CDAC), the regulator has revised the meeting frequency guidelines for ...

Sebi rolls out verified UPI and a fraud detection tool for investors

Measures launching on Oct 1 will help people verify payments they make in market transactions

Mirae Asset, BlackRock, others buy 1.8% stake in AB Capital for ₹1,136 cr

The shares of Aditya Birla Capital rose 1.46 per cent to close at Rs 246.25 per piece on the BSE, while it gained 1.47 per cent to settle at Rs 246.22 apiece on the NSE

Packaged foods firm Orkla India files DRHP for IPO, sees market growing

Orkla India, formerly MTR Foods, files DRHP with SEBI for IPO comprising 2.2 crore shares in a full OFS; company will not receive any proceeds from the sale

HFTs shift to Gift City to save on stamp duty and transaction costs

High-frequency trading firms are setting up offices in GIFT City to avail stamp duty refunds under Gujarat's incentive scheme, with Sebi easing IFSC registration norms

NSE gets Sebi's nod to launch monthly electricity futures contracts

The National Stock Exchange of India (NSE) on Wednesday said it has received the approval from markets regulator Sebi to launch monthly electricity futures contracts. The launch aims to provide market participants with effective hedging tools against electricity price volatility, enable more accurate price signals in the power sector and encourage capital investments across the electricity value chain -- generation, transmission, distribution, and retail. "This approval is only the beginning of NSE's vision for a broader electricity derivatives ecosystem. Plans are underway to gradually introduce contracts for difference (CFDs) and other long-duration electricity derivatives such as quarterly and annual contracts subject to regulatory approvals," Ashishkumar Chauhan, MD & CEO, NSE said in a statement. The exchange said that a calibrated and phased approach will ensure both market integrity and investor confidence. It is crucial for the spot and futures electricity markets to ...