Page 74 - Sebi

BSE up 18% on colo case decision; time reduced for trading bonus shares

Interestingly, NSE's unlisted share price has increased by almost three times in the past three years, with its current price ranging from Rs 6,000 to Rs 6,200 per share

Godrej Consumer MD and CEO Sudhir Sitapati throws weight behind Dhaval Buch

Godrej Consumer Products MD & CEO Sudhir Sitapati has thrown his support behind Dhaval Buch, husband of embattled Sebi Chairperson Madhabi Puri Buch, stating that it could be the side effects of what happens when the worlds of government and the private sector collide. Dhaval and Madhabi have been facing allegations of conflict of interest over providing consultancy services to corporates. In a post on networking platform LinkedIn, he said unless the context of the top professionals coming from the corporate world is understood, there could be a situation where no senior person from the private sector would ever consider a government job. Given the cusp of change India is at, "there is a lot of talent in the private sector that the government could use, and we probably need to reconsider our old socialist biases against everything private," he said. "I have known of and then known Dhaval Buch for the 22 years that I worked at Hindustan Unilever. I was much his junior, but in a ...

Facts need to be taken on board: FM Nirmala Sitharaman on Buch row

FM said that Buch, along with her husband, had answered quite a few of the allegations levelled against her by the Congress party and have put forth the facts

Puri Buch row: Youth Congress workers stage protest outside Sebi office

Youth Congress activists on Monday demonstrated outside the SEBI office in Mumbai, demanding a probe into allegations raised against SEBI chairperson Madhabi Puri Buch and her resignation. Police detained the workers and booked them under various sections of the Bharatiya Nyay Sanhita (BNS). Citing the US short-seller Hindenburg Research's report, the party workers led by Mumbai Youth Congress president Akhilesh Yadav demanded Puri Buch's resignation, alleging a conflict of interest. "We wanted an inquiry into the allegations and Puri Buch's resignation from the post," said Yadav. Puri Buch and SEBI had denied allegations.

Sebi shortens bonus issue time; trading to start T+2 days from record date

In a bid to speed up the process of crediting and trading bonus shares, markets regulator Sebi on Monday introduced new guidelines, whereby investors will be able to trade bonus shares just two days after the record date starting October 1. The current ICDR (Issue of Capital and Disclosure Requirements) rules prescribe overall timelines regarding the implementation of the bonus issue. However, there is no specific timeline for credit of bonus shares and trading of such shares, from the record date of the issue. Currently, after a bonus issue, existing shares continue to trade under the same ISIN, and the new bonus shares are credited and available for trading within 2-7 working days after the record date. Under the guidelines, trading in bonus shares will now be enabled on the second working day (T+2) after the record date, boosting market efficiency and reducing delays. This will be applicable for all bonus issues announced on or after October 1, 2024, the Securities and Exchange

Fabtech Technologies files draft papers with Sebi to raise funds via IPO

Fabtech Technologies -- a turnkey engineering solutions provider for the pharmaceuticals, biotech and healthcare industry -- has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering. The Mumbai-based company's proposed initial public offering (IPO) is entirely a fresh issue of up to 1.20 crore equity shares. The offer also includes a reservation for a subscription by eligible employees, according to the draft red herring prospectus (DRHP). The company may raise up to Rs 10 crore through the pre-IPO round. If such placement is completed, the fresh issue size will be reduced. Proceeds from the IPO to the extent of Rs 120 crore will be used for funding the working capital requirements of the company, and Rs 30 crore for pursuing inorganic growth initiatives through acquisitions, and general corporate purposes. Fabtech Technologies, part of the Fabtech Group was incorporated as Globeroute Ventures Private Ltd. The company demerg

Sebi withdraws statement blaming 'external elements' for employee protests

Sebi on Monday retracted its statement that "external elements" were behind employee protests against its work culture. The regulator emphasised it will handle the issues internally

ICRA ESG Ratings gives its first rating to InCred Financial Services

ICRA ESG Ratings Limited has assigned its first Environmental, Social, and Governance (ESG) rating to InCred Financial Services, a non-banking financial company. ICRA ESG received registration as a Category-I ESG Rating Provider (ERP) from the Securities and Exchange Board of India (SEBI) earlier this fiscal. ICRA ESG was formerly known as Pragati Development Consulting Services Limited (PDCSL). "InCred Financial Services Limited, a Non-Banking Financial Company (NBFC) focused on personal loans, student loans, and business loans, has been assigned a rating of [ICRA ESG] Impact 57, Moderate," said ICRA ESG Ratings Limited (ICRA ESG), a wholly-owned subsidiary of ICRA, in a release. It further said the ICRA ESG-assigned ratings help investors assess the non-financial risks and opportunities associated with entities and facilitate making better investment decisions, paving the way for a more sustainable and responsible investment landscape. These ratings also help the rated entity gai

Sebi exempts SHPL from making open offer for SpiceJet shareholders

Markets regulator Sebi has exempted Spice Healthcare Pvt Ltd from making an open offer to SpiceJet shareholders in relation to acquisition of additional shares in the airline. On conversion of warrants that were issued to it, Spice Healthcare, a promoter group entity, would be acquiring an additional 13,14,08,514 equity shares in the airline. In this regard, SpiceJet had sought an exemption from Sebi with respect to making an open offer for the shareholders of the airline. The Securities and Exchange Board of India (Sebi), through an order on Friday, has given the exemption from making the open offer to Spice Healthcare subject to certain conditions, the airline said in a filing to BSE on Saturday. Post conversion of the warrants, Spice Healthcare will have an additional 13.74 per cent stake in the airline and that would trigger the open offer requirement under Sebi norms. The watchdog has given the exemption subject to the condition that the shares acquired by the entity on exerc

Congress fires fresh salvo against Sebi Chairperson Madhabi Puri Buch

Fresh allegation that Buch traded in listed securities while holding a position in Sebi came a day after a detailed response from the Sebi chief and her husband

Sebi, RBI and Irdai: How financial regulators are appointed, removed

Tenures across organisations often range from three to five years with the possibility of reappointment

'False, malicious, and motivated': Buchs reject Congress charges

Say I-T returns obtained 'illegally' and twisted to create 'false narrative'

Sebi drops charges against NSE, ex-top executives in co-location case

Cites lack of evidence to establish collusion, connivance with OPG Securities

Sebi disposes of case against NSE, its former employees in co-location case

Sebi on Friday dismissed regulatory violation charges against the NSE and its seven former employees, including Chitra Ramkrishna and Ravi Narain, in the matter of the co-location facility, citing the absence of sufficient evidence. "Due to the absence of sufficient material/evidence/objective facts on record in this case, the test of preponderance of probability' fails to produce enough justification for the establishment of collusion/connivance between OPG and its directors with Noticees (NSE and its seven employees)," Seb said in its 83-page order. Apart from NSE, Ramkrishna and Narain, Sebi has dropped charges against Anand Subramanian, Ravindra Apte, Umesh Jain, Mahesh Soparkar and Deviprasad Singh. The case relates to the alleged preferential access given to certain broking firms in the form of 'dark fibre' at the National Stock Exchange (NSE) to connect across the colocation facilities before other members. The dark fibre or unlit fibre, with respect to network connectivity,

Sebi launches centralized fee collection for investment advisers, analysts

Market regulator Sebi on Friday announced rolling out a new system -- Centralized Fee Collection Mechanism -- to facilitate collection of fees by Investment Advisers (IAs) and Research Analysts (RAs) from their clients on an optional basis. Under this mechanism, clients will pay fees to IAs/RAs, through a designated platform or portal administered by a recognised Administration and Supervisory Body (ASB), the regulator said in a circular. The move came in response to the growing interest in the securities market and the need for greater transparency in fee payments. The markets regulator said that BSE would specify the operational framework for the mechanism on or before September 23 and make the mechanism operational from October 1. The mechanism has been co-created by BSE Ltd with the help of various stakeholders. While using this mechanism is optional, Sebi asked ASB to take steps to encourage clients and the registered IAs and RAs to avail the services of this mechanism. Fur

TMC MP Mahua Moitra files complaint against Sebi chief Buch with Lokpal

Trinamool Congress MP Mahua Moitra on Friday said she has filed a complaint against SEBI Chairperson Madhabi Puri Buch with the Lokpal and added the ombudsman should forward it to the ED or CBI for preliminary probe followed by a "full FIR enquiry". Moitra shared a screenshot of submission of both the online complaint and the physical copy. "My Lokpal complaint against Ms. Puri-Buch been filed electronically and in physical form. Lokpal must within 30 days refer it to CBI/ED for a preliminary investigation and then a full FIR enquiry," Moitra said. "Every single entity involved needs to be summoned and every link investigated," she added. The Trinamool Congress (TMC) MP also tagged Congress leaders Jairam Ramesh and Pawan Khera in the post. Hindenburg Research, a US-based short-shelling firm, had first levelled the allegation of conflict of interest against Buch. She had categorically denied the allegation. The Congress has also made a series of allegations of irregularities agai

Margin pressures, valuations to weigh on P&G Hygiene and Healthcare

Going ahead, the Street will track the sales and margin trajectory. Sales growth in the quarter came in ahead of estimates in a seasonally weak quarter due to lower sales of Vicks

Sebi warns investors against fraudulent activities by unregistered entity

The National Stock Exchange (NSE) on Thursday warned investors regarding fraudulent activities perpetrated by an entity, Lazard Asset Management India. The cautionary statement came after the exchange received a complaint against a WhatsApp group named "JO HAMBRO" luring investors with offers to buy shares at discounted prices after market hours. This group has allegedly collected money from retail investors under the garb of "Seat Trading Account". In this group, the entity --Lazzard Asset Management India-- is misrepresenting itself as a registered stock broker with the Securities and Exchange Board of India (Sebi) using a forged registration certificate, the exchange said. "We wish to clarify that no entity by the name of Lazzard Asset Management India is registered with Sebi as a stock broker. The forged Sebi registration certificate circulated in the WhatsApp group is entirely fabricated and illegitimate," NSE said in a statement. Accordingly, the bourse has cautioned ...

Sebi asks exchanges, market infra institutions to ensure minimal data loss

Markets regulator Sebi on Thursday asked stock exchanges and other market infrastructure institutions (MIIs) to ensure that the Recovery Point Objective (RPO) -- the maximum period for which data loss is tolerable due to a technical glitch or disruptions -- is near zero. In market parlance, a recovery point objective (RPO) of near zero means that an institution should aim for almost 100 per cent availability of their data and applications. Further, MIIs need to have a documented methodology for data reconciliation when resuming operations from Disaster Recovery Site (DRS) or any other site as applicable, Sebi said in a circular. Additionally, Sebi has asked MIIs -- stock exchanges, clearing corporations and depositories- to collaborate in developing a standardized definition of 'near zero data loss' and submit the same to it after taking approval from their respective Standing Committee on Technology. In addition to a Disaster Recovery Site, all stock exchanges, clearing ...

Higher limit in FPIs: NRI investments in Gift City off to a slow start

Industry participants note that while there is interest from NRIs and investors, some are reluctant to provide PAN and know-your-customer (KYC) details