Page 73 - Sebi

India's retail derivatives traders lost Rs 1.8 trn in three years: Sebi

In fiscal year 2024, 91.1% of retail traders made losses while trading in derivatives, with gross losses totalling 524 billion rupees, the study showed

Casagrand Premier Builder files papers with Sebi for Rs 1,100-cr IPO

Real estate developer Casagrand Premier Builder has filed preliminary papers with capital markets regulator Sebi to raise Rs 1,100 crore through an initial public offering (IPO). The IPO is a combination of a fresh issue of equity shares worth Rs 1,000 crore and an offer for sale (OFS) of stocks valued Rs 100 crore by promoters, according to the draft red herring prospectus (DRHP). The OFS consists of the sale of equity shares up to Rs 50 crore each by Arun MN and Casagrand Luxor Pvt Ltd. Besides, the company may consider raising up to Rs 200 crore in a pre-IPO placement round. If such placement is carried out, the fresh issue size will be reduced. Going by the draft papers filed last week, proceeds from the fresh issue will be used for payment of debt availed of by the company and its subsidiaries as well as for general corporate purposes. Founded in 2003, the Chennai-based company offers a diverse range of residential projects, including apartments of various sizes and independe

Upcoming IPO! Casagrand Premier files DRHP for Rs 1,100-cr issue with Sebi

KFin Technologies is the registrar to the offer, while JM Financial and Motilal Oswal Investment Advisors are the book-running lead managers to the issue

Have the FIIs lost their way amid DIIs capitalisation on market rally

FIIs failed to participate in the big runup in better-quality infrastructure cos, defence and energy transition and public-sector companies, many of which have reported vastly improved performances

Complaint against Sebi chief falls short of persuading us to probe: Lokpal

Anti-corruption ombudsman Lokpal has said that a complaint by a Lok Sabha MP alleging impropriety and conflict of interest by capital markets regulator SEBI's chairperson, Madhabi Puri Buch "falls short" of persuading it to order any probe. While deciding on two complaints filed by different individuals on the basis of a report by US-based "activist short-seller" Hindenburg Research, it asked the complainants to file affidavits mentioning details of the efforts made by them "to verify the authenticity and credibility of the claims in the recent report of Hindenburg Research published on 10.08.2024." It also asked them to articulate the allegations against the "person concerned" which may constitute an "offence of corruption" within the ambit of the Prevention of Corruption Act, 1988, 'provision wise', as per the Lokpal's order dated September 20, which was put up in public domain "to obviate the possibility of speculation and misinformation including politicisation of the ...

Ex Sebi chief to head panel on ending monopolies in gas transmission

Oil regulator has formed a committee under former Sebi chairman Ajay Tyagi to recommend ways of ending monopolies enjoyed by companies engaged in both transportation and marketing of natural gas and city gas retailing. The eight-member committee has been asked to give its recommendations on splitting entities engaged in both transportation and marketing of natural gas, and ending the monopolies of city gas retailers where required, the Petroleum and Natural Gas Regulatory Board (PNGRB) said in an order. The panel has been asked to submit its report in three months. In mature markets, energy infrastructure is operated on a common carrier principle that gives access to third parties. Any user or supplier could access any gas pipeline, irrespective of who owns it. But that is not the case in India with users and suppliers often complaining of not getting access. The government had a few years back considered splitting state-owned gas utility GAIL (India) Ltd by hiving off its pipeline

Mockery of public accountability: Congress slams Sebi over RTI rebuff

The Congress has slammed SEBI's refusal to disclose instances when its chairperson Madhabi Buch recused herself due to conflict of interest and said that this makes a "mockery" of public accountability and transparency. The cases where Buch recused herself due to potential conflict of interest is not "readily" available and collating them would "disproportionately divert" its resources, the securities market regulator said in an RTI response on Friday. In the response furnished to transparency activist Commodore Lokesh Batra (retd), the regulator also refused to provide copies of Buch's declarations to the government and SEBI Board on the financial assets and equities held by her and her family members on the grounds of these being "personal information" and that their disclosure may "endanger" personal safety. Reacting to the development, Congress general secretary in-charge communications Jairam Ramesh said, "The multiple conflicts of interest of the SEBI Chairperson that have bee

Sebi order on Axis Capital: Axis Bank says complied with regulatory norms

Bank's arm was restrained by Sebi from taking new assignment as merchant banker in debt segment

Sebi considers allowing only electronic payment of dividend, interest

Markets regulator Sebi on Friday proposed that listed entities should make all payments, such as dividends, interests and redemptions, through electronic mode only. The proposal is aimed at streamlining payment processes and enhance security, convenience and efficiency for all investors. Current Sebi's LODR (Listing Obligations and Disclosure Requirements) rules allows electronic payments but permits cheques or warrants if electronic transfers fail, especially for amounts over Rs 1,500. Failures occur when a securityholder's bank details are incorrect or unavailable, requiring companies to send cheques. According to recent data, 1.29 per cent of electronic dividend payments fail for the top 200 listed companies, Sebi said. In its consultation paper, the Securities and Exchange Board of India (Sebi) has proposed making all payments, including dividends and interest, in electronic form for both demat and physical securityholders. Investors would be encouraged to update their correc

Sebi refuses to reveal instances of Buch recusing on conflicts in RTI reply

The cases where SEBI chairperson Madhabi Puri Buch recused herself due to potential conflict of interest is not "readily" available and collating them would "disproportionately divert" its resources, the securities market regulator said in an RTI response on Friday. In the response furnished to transparency activist Commodore Lokesh Batra (retd), the regulator also refused to provide copies of Buch's declarations to the government and SEBI Board on the financial assets and equities held by her and her family members on the grounds of these being "personal information" and that their disclosure may "endanger" personal safety. It also denied to disclose the dates on which the disclosures were made. The SEBI Central Public Information Officer (CPIO) used the grounds of "personal information" and "safety" to deny copy of those declarations. "Since the information sought do not pertain to you and the same relates to personal information, the disclosure of which has no relationship to any

Sebi allows mutual fund industry to buy, sell credit default swaps

This flexibility to participate in CDS would serve as an additional investment product for mutual funds, Sebi said in a circular

LIC MF plans to launch bite-size SIPs in October; aims Rs 1 trn AUM by FY26

To focus on new physical branches in B30 cities

Axis Capital to explore legal remedies against Sebi's ban on debt segment

Axis Capital on Friday said it is exploring legal remedies against markets regulator Sebi's order restraining the firm from taking up new assignments as a merchant banker for the debt segment. In a statement, the company clarified that Sebi has not imposed any other restrictions on Axis Capital and it will continue to operate all other business activities in the ordinary course in equity capital markets, infrastructure investment trusts (InvITs), real estate investment trust (REITs), M&A, private equity and institutional equities domain. On Thursday, the Securities and Exchange Board of India (Sebi), in an interim ruling, prohibited Axis Capital from taking up any new assignments in the capacity of a merchant banker, arranger or underwriter for any issue or offer for sale of securities in the debt segment. This restriction will remain in place until further orders. "ACL (Axis Capital Ltd) provided guarantee/indemnity towards redemption of NCDs (non-convertible debentures) in the ..

Sebi bars Axis Capital from acting as merchant banker in debt segment

Investment bank provided guarantee towards redemption of NCDs in the guise of underwriting, says the regulator

Sebi amends rules to streamline public issuance of debt securities

Markets regulator Sebi has amended rules to streamline the process for public issuance of debt securities aimed at providing faster access to funds for such issuers. Under the amended rules, Sebi has reduced the period for seeking public comments on the draft offer documents from 7 working days to 1 day for issuers whose specified securities are already listed and 5 days for other issuers. "The issuers whose specified securities are listed on a recognised stock exchange having nationwide trading terminals shall post the draft offer document filed with stock exchange(s) for one day immediately after the date of filing the draft offer document with stock exchange(s)," the regulator said in a notification. Also, the minimum subscription period has been cut from 3 to 2 working days. Further, in case of revision in the price band or yield, the bidding period disclosed in the offer documents, can be extended by one working day instead of three working days. The new rules are aimed at ...

Sebi remains bullish on Reit market in India, says WTM Ashwani Bhatia

WTM Ashwani Bhatia says benchmarking to bring accuracy, efficiency, and more customers into its fold

Quality Power files draft papers with Sebi to raise funds via IPO

Quality Power Electrical Equipments, an energy transmission equipment and power technologies company, has filed preliminary papers with capital market regulator Sebi to raise funds through a initial public offering. The initial public offering (IPO) comprises a fresh issue of equity shares aggregating up to Rs 225 crore and an offer for sale (OFS) of up to 1.2 crore equity shares, according to the draft red herring prospectus filed on Monday. As part of the OFS, promoter Chitra Pandyan will offload the shares of the IPO-bound company. The Pandyan family holds 100 per cent stake in Sangli-based Quality Power. Proceeds from the fresh issue are proposed to be utilised for the acquisition of Mehru Electrical and Mechanical Engineers Pvt Ltd, funding capital expenditure requirements for purchasing plant and machinery. Besides, the company will also use the funds for inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes. Quali

BSE defers IT services firm Trafiksol's IPO after investors' concern

Company's issue had garnered bids over Rs 10,000 cr; participants approached Sebi alleging irregularities

Dental products firm Laxmi Dental files draft papers with Sebi for IPO

Dental products company Laxmi Dental Ltd has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). The IPO is a combination of a fresh issue of equity shares worth Rs 150 crore and an offer for sale (OFS) of 1.28 crore shares by promoters and other shareholders, according to the draft red herring prospectus (DRHP) filed last week. As a part of the OFS, investor OrbiMed Asia II Mauritius Ltd will offload shares of the IPO-bound company. Besides, the company may consider raising Rs 30 crore in a pre-IPO placement round. If such placement is completed, the fresh issue size will be reduced. Proceeds from the fresh issue will be kept aside for investment in subsidiary Bizdent Devices, purchase of new machinery for the company, payment of debt and for general corporate purposes. Laxmi Dental, an end-to-end integrated dental products company, has a comprehensive portfolio that includes custom-made crowns and bridges, branded

PMEA Solar submits papers to Sebi for Rs 600 cr IPO; 11.2 mn shares on sale

PMEA Solar IPO: The funds raised through the fresh issue will be allocated towards capital expenditure and debt repayment