Page 51 - Sebi

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

Sebi introduces document number verification system for transparency

Markets regulator Sebi on Thursday launched a 'document number verification system' to ensure verifiability of all documents issued by it. This has been launched keeping in mind the public interest and transparency in the functioning of the Securities and Exchange Board of India (Sebi). Under the system, any physical communication such as letters, notices, show-cause notices and summons issued by Sebi will bear an outward number, which is unique for every communication issued by the regulator, according to a statement. The process intends user verification through authentication of the one-time password (OTP) generated on the mobile number of the recipient(s) or any other person acting on their behalf who may then enter such outward number as well as other credentials like sender's name, date of the communication and the name of the recipient to verify the issuance of such communication by Sebi. The verification process, however, does not include the verification of contents of the

Sebi launches system to verify authenticity of notices and summons

Sebi warns NSDL for compliance on centralised database

MRN Chamundi pays ₹56 lakh to settle market norms violation case with Sebi

MRN Chamundi Canepower and Biorefineries has settled a case with capital markets regulator Sebi over alleged violations of the Companies Act, after paying Rs 56 lakh towards the settlement amount. The order came after MRN Chamundi filed a suo motu settlement application under the norms proposed to settle by neither "admitting nor denying the findings of fact and conclusions of law". "It is hereby ordered that any proceedings that may be initiated for the violations are settled in respect of the applicant (MRN Chamundi Canepower and Biorefineries)," Sebi's whole-time members Amarjeet Singh and Kamlesh C Varshney said in the order on Tuesday. As per the settlement order, the markets watchdog will not initiate enforcement proceedings against MRN Chamundi Canepower for the violations. However, Sebi retained the right to take further action if any misrepresentation is discovered or if the company breaches any terms of the settlement. The violations pertained to the allotment of equity .

Sebi imposes Rs 5.2 crore penalty on OPG Securities in NSE co-location case

New order following SAT directions to recalculate the disgorgement and penalty amounts

Sebi allows advisers, analysts to charge advance fees for up to a year

Capital markets regulator Sebi on Wednesday allowed investment advisers and research analysts to charge advance fees for up to one year. Under the existing rules, investment advisers (IAs) can charge fees in advance for up to two quarters if agreed upon by the client, while for research analysts (RAs), it was only for a quarter. "If agreed by the client, IAs and RAs may charge fees in advance, however, such advance shall not exceed fees for a period of one year," the Securities and Exchange Board of India (Sebi) said in its circular. The fee-related provisions such as fee limit, modes of payment of fees, refund of fees, advance fee, and breakage fees will only be applicable in the case of their individual and Hindu Undivided Family (HUF) clients (provided these clients are not accredited investors). These provisions will not be applicable in the case of non-individual clients, accredited investors, and in case of institutional investors seeking the recommendation of a proxy ...

Sebi extends NSDL share listing deadline to July 31, 2025 for IPO prep

Capital markets regulator Sebi has granted an extension for the listing of National Securities Depository Ltd (NSDL) shares until July 31, 2025, the depository announced. This extension comes after the depository sought an extension from the Securities and Exchange Board of India (Sebi). According to NSDL's statement, "Sebi, vide its letter dated March 28, 2025, has granted an extension for the listing of shares of NSDL on a recognised stock exchange until July 31, 2025, subject to the conditions." Market experts suggest that this extension will give NSDL ample time to ready itself for the Initial Public Offering (IPO) and to launch it when market conditions are more favourable. Sebi granted its go-ahead to NSDL in September 2024 to float its IPO. The depository had filed its draft papers in July 2023. The proposed IPO will be a complete Offer For Sale (OFS) of over 5.72 crore equity shares by existing shareholders, including the National Stock Exchange of India (NSE), State Bank

Relief for brokers as stock exchanges ease technical glitch norms

The exchanges have also revised the list of instances that will be considered a technical glitch, excluding those where the broker is not at fault

Clearing corporation ownership shift remains shrouded with uncertainty

Sources say diversified shareholding may create challenges in fundraising, will add complexities

Link Intime India pays ₹14.5 lakh to settle norms violation case with Sebi

Link Intime India on Tuesday settled a case with markets regulator Sebi for alleged violation of market norms after paying Rs 14.5 lakh towards the settlement amount. Link Intime India (now known as MUFG Intime India), a registrar to an issue and share transfer agent, had filed a settlement application on December 20 last year, the regulator said in the order. The order came after the applicant (Link Intime India) proposed to settle the instant proceedings initiated against it, without "admitting or denying the findings of facts and conclusions of law". As per the settlement order, the markets watchdog will not initiate enforcement proceedings against Link Intime India for the violations. However, Sebi retained the right to take further action if any misrepresentation is discovered or if the company breaches any terms of the settlement. "...in view of the acceptance of the settlement terms and... settlement amount by Sebi, the instant adjudication proceedings initiated against ...

SC asks TMC MP Mahua Moitra to approach Sebi for public disclosure of FPIs

The Supreme Court on Tuesday asked TMC MP Mahua Moitra to make a detailed representation to the SEBI on mandating public disclosure of portfolio holdings of alternative investment funds and foreign portfolio investors (FPIs). A bench of Justices B V Nagarathna and Satish Chandra Sharma passed the order while hearing Moitra's plea for a direction to the Securities and Exchange Board of India (SEBI) to mandate public disclosure of ultimate beneficial owners and portfolio of alternative investment funds (AIFs), FPIs and their intermediaries in India. While disposing of Moitra's plea, the bench said once such a representation would be made, the same be considered in accordance with law. Advocate Prashant Bhushan, appearing for Moitra, said the regulations of SEBI require normal mutual funds and other investors to disclose who were these people who were investing, in which companies they were investing. "So far as these two categories (AIFs and FPIs) are concerned, no disclosure is ...

Bombay HC extends stay on FIR order against ex-Sebi chief Buch, 5 others

"The interim relief granted earlier shall continue until further orders," HC said posting the matter for further hearing on May 7

ESDS Software Solution files draft papers with Sebi for Rs 600 crore IPO

Cloud infrastructure and data center services provider ESDS Software Solution Ltd has filed preliminary papers with capital markets regulator Sebi to mop up Rs 600 crore through an initial public offering (IPO). The IPO is solely a fresh issue with no offer-for-sale (OFS) component, according to the draft red herring prospectus (DRHP) filed on March 30. This marks the company's second attempt to go public. Previously, the company had filed draft papers for its IPO in September 2021. The company may consider raising Rs 120 crore through a pre-IPO placement round. If such a placement is completed, the fresh issue size will be reduced. Proceeds from the fresh issue to the extent of Rs 480.7 crore will be used for purchase and installation of cloud computing and other equipment and other infrastructure for the Data Centres and the remainder funds for general corporate purposes. ESDS Software Solution provides the entire spectrum of cloud, managed services, data centre infrastructure a

IPO Alert! Jain Resource Recycling files draft papers with Sebi; details

The company seeks to raise up to ₹2,000 crore from the public issue, which comprises both a fresh issue as well as an offer for sale of equity shares