Page 46 - Sebi

Sebi extends deadline for reporting differential rights issues by AIFs

Markets regulator Sebi on Monday extended the deadline by a month to March-end for reporting differential rights issues by Alternative Investment Funds (AIFs). A one-time reporting requirement was set for AIFs that filed their Private Placement Memorandum (PPM) with SEBI on or after March 1, 2020, and issued differential rights outside the standard guidelines. This report was initially due by February 28, 2025. Following the requests for more time from the AIF industry, the deadline has been extended to March 31, 2025, the Securities and Exchange Board of India (Sebi) said in a circular. Earlier, the regulator amended the AIF Regulations, 2012 in November regarding investor rights in AIF schemes. Thereafter in December, laid out guidelines for AIFs offering differential rights to certain investors. Under the guidelines, Sebi directed AIFs to grant investors' rights in investment and distribution of proceeds in proportion to their commitments in a scheme. In simple words, risks as

Sebi permits all NBFCs, HFCs to invest in security receipts by ARCs

Markets regulator Sebi has allowed all non-banking financial companies (NBFC), including housing finance companies, to invest in security receipts issued by Asset Reconstruction Companies (ARCs), a move aimed at encouraging investments in the bad loans space. This has widened the scope of participants who can acquire security receipts from ARCs, thereby boosting liquidity in the distressed asset market. ARCs are set-up to acquire bad loans from banks and financial institutions after appropriate haircuts and issue security receipts (SRs). In a gazette notification issued on February 28, Sebi said, "all NBFCs including HFCs regulated by the Reserve Bank of India (RBI) are hereby specified as qualified buyers for the purposes of SARFAESI Act (the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002)". This comes with safeguards to avert defaulting promoters from claiming back the secured assets through SRs. Sebi said that su

HC asks ACB not to act till Mar 4 on FIR order against ex-Sebi chief

The bench said it would hear the pleas on Tuesday (March 4) and orally added that until then, the state ACB, which was directed to probe the case, shall not act upon the special court order

Upcoming IPO: Pranav Constructions files DRHP with Sebi; details here

The public offering, as outlined in the DRHP, comprises a fresh issue of equity shares of up to Rs 392 crore, with an offer-for-sale (OFS) of up to 2.85 million equity shares

Madhabi Buch, 3 Sebi directors move Bombay HC to quash FIR in fraud case

Bombay HC will hear Sebi and BSE officials' plea on March 4 against an FIR order in the 1994 Cals Refineries stock fraud case, which was issued just two days after Buch's tenure ended

Sebi's combo mutual fund-insurance plan likely to hit a roadblock

With multiple operation challenges, idea falls out of favour with MFs

Street signs: Downward spiral threatens stability, heavyweights on a diet

Getting added to the futures and options (F&O) segment is usually a win for stocks, lifting their chances of joining key indices and attracting passive inflows

Sebi to challenge court order on alleged listing permission irregularities

ACB Court directs filing of FIR against former chairperson Buch, three current WTMs

Mumbai court orders FIR against ex-Sebi chief Madhabi Puri Buch, 5 others

According to the complainant, Sebi officials permitted the listing of a company that failed to meet regulatory norms, leading to market manipulation and investor losses

Excelsoft Technologies files IPO papers with Sebi to raise Rs 700 cr

Excelsoft Technologies Ltd, a vertical SaaS (software-as-a-service) company focused on the learning and assessment market, has filed draft papers with capital markets regulator Sebi to raise Rs 700 crore through an initial public offering (IPO). The proposed IPO of the Karnataka-based company is a combination of a fresh issue of shares valued Rs 210 crore and an offer for sale (OFS) of shares worth Rs 490 crore by the promoters -- Pedanta Technologies and Dhananjaya Sudhanva, according to the draft red herring prospectus (DRHP). The company may consider mobilising up to Rs 270 crore in pre-IPO round. "If the pre-IPO placement is undertaken, then the amount raised from the pre-IPO placement will be reduced from the fresh offer size and/or the Offer for Sale portion," the company said in the draft papers filed on Friday. The company has proposed to utilise the proceeds of the fresh issue towards purchase of land and construction of a new building and for upgradation and external ...

Meir Commodities files draft papers with Sebi to raise funds through IPO

Meir Commodities India Ltd has filed preliminary papers with markets regulator Sebi seeking its approval to raise funds through an initial public Offering (IPO). The Mumbai-based company's proposed IPO is a mix of fresh issues 52.94 lakh shares and an offer-for-sale (OFS) of 35.29 lakh shares by promoter Rahil Irfan Iqbal Shaikh, according to the draft red herring prospectus (DRHP) filed on Thursday. Proceeds from the fresh issue to the extent of Rs 48.75 crore will be used for funding working capital requirements and general corporate purposes. Incorporated in 2018, Mier Commodities India is engaged in B2B trading of agricultural commodities, primarily sugar, khandsari, and sugar allied products. Operating as an intermediary, the company connects sugar mills and distributors, ensuring seamless supply chain management. Its diverse product portfolio includes sugar, rice, pulses, spices, and other agricultural commodities, with a strong presence in both domestic and international ...

Economic affairs secretary Ajay Seth gets additional charge of revenue dept

Economic affairs secretary Ajay Seth was on Saturday given additional charge of the post of secretary, Department of Revenue, according to a personnel ministry order. The vacancy was necessitated following the appointment of revenue secretary Tuhin Kanta Pandey as the chairman of the Securities and Exchange Board of India (SEBI) on February 27. Pandey on Saturday assumed charge as the chief of the Mumbai-based capital markets regulator. The competent authority has approved the assignment of the additional charge of the secretary of the Department of Revenue to Ajay Seth, secretary of the Department of Economic Affairs till the appointment of a regular incumbent, the order said.

Technology, teamwork, transparency & trust: New Sebi chief's mantra

Tuhin Kanta Pandey on Saturday assumed charged as the new Sebi chief

Tuhin Kanta Pandey assumes charge as Sebi chairperson for 3 years

An IAS officer from the 1987 Odisha cadre, he has been serving as the Finance Secretary and Secretary of the Department of Revenue; his tenure will span three years from the date he assumes office

Markets to policy: 11 challenges for new Sebi chief Tuhin Kanta Pandey

The regulator's 11th chairman will have to balance the interest of investors and policy changes

North Block to Sebi's hot seat: Market's new watchman Tuhin Kanta Pandey

Pandey's tenure as the DIPAM secretary also saw the public listing of Life Insurance Corporation of India and the government moving away from disclosing disinvestment targets

Sebi modifies guidelines on nomination facilities in securities market

Markets regulator Sebi on Friday modified its guidelines and issued necessary clarifications on nomination facilities in the securities market in a bid to make the process of transmission and nomination easier for demat accounts and mutual fund (MF) folios. In its circular, Sebi said that if one or more joint account holders pass away, the assets will be transferred to the surviving holder(s) without the need for additional KYC unless it was requested earlier and not provided. The surviving holder(s) can update their contact details and add or change their nominee(s) at any time. Further, investors will have the option to designate a nominee (excluding minors) to manage their account in case they become physically incapacitated. This nominee can be changed as needed. On nomination opt-out, Sebi said that investors with single holdings can choose to opt out of nomination either online or offline. The nomination form has been updated with changes like specifying that any odd lot aft

CII's legal committee pushes for appellate body for financial sector

The legal committee wants all financial regulators, including the RBI, to be under the ambit of the new body

Madhabi Puri Buch to hang up her boots as Sebi chief after 3-year tenure

India's first woman Sebi Chief Madhabi Puri Buch, who faced conflict of interest allegations by the US-based short-seller Hindenburg and also political heat thereafter, would complete her three-year tenure later on Friday and will be succeeded by Finance Secretary Tuhin Kanta Pandey. Before her appointment as Sebi chief, veteran investment banker who has also work with country's leading private sector lender ICICI Bank, joined Sebi's board as a whole-time member in April 2017 and was later elevated as a chairperson in March 2022. She succeeded former IAS officer Ajay Tyagi, who held the top position for five years, from March 1, 2017, to February 28, 2022. Buch's stint at Sebi Chief has been marked by both significant strides and notable challenges. Taking charge on March 2, 2022, Buch made history as the first woman to lead the market regulator, as well as the first private-sector individual to hold the position. Although, Buch in her tenure made significant strides in areas like

Investors want new Sebi chief Tuhin Kanta Pandey to keep things simple

A career bureaucrat, Pandey is currently India's Finance Secretary, he oversees the revenue department