Sebi had given the exchanges a 2-year window to comply or exit.
List of disappearing entities could see additions, for first time in 20 years.
Food and grocery retailer Subhiksha has taken the acquisition route to list its shares on the stock exchanges. The company wants to avoid an initial public offer in view of the turbulence in the capital market.
The Bombay Stock Exchange on Friday opened an exclusive Investor Service Centre in Chennai, offering a complete range of services including redressal of investor complaints along with acting as a single window for all queries on stock markets.
The Uttar Pradesh Stock Exchange may get permission from the Securities and Exchange Board of India for taking membership of the National Stock Exchange, NSE, as Bhave, the new Sebi chief, seems to be cooperative on the moves that had earlier been opposed by his predecessor. M Damodaran had, almost eight months back, rejected the application of the Madras Stock Exchange for a tie-up with the NSE. But after Bhave took over, this permission has been granted.
Sell it to the company's shares during the next year.
Reports have suggested Rs 400-650 as the possible IPO price
It pegs the value of these companies at Rs 2 lakh crore (Rs 2 trillion).
Earlier in February, Daiichi Sankyo had announced it would launch an open offer for Zenotech to acquire 68.85 lakh shares or a 20 per cent stake. Daiichi had said it would pay up to Rs 78.23 crore (Rs 782.3 million), at Rs 113.62 a share, to Zenotech shareholders for the stake in the open offer, which was scheduled to begin on July 15 and close on August 3.
Orchid Chemicals and Pharmaceuticals is acquiring a Chennai-based firm for Rs 260 million ($5.4 million) in an all-cash deal to expand to speciality drugs, the Bombay Stock Exchange said on Tuesday.
Mayajaal Entertainment Ltd, which will be vested with the business activities of Pentamedia Graphics Ltd after a business restructuring, will apply for listing on stock exchanges in September.
The Securities and Exchange Board of India's (Sebi's) technical advisory committee has been mandated to probe the trading halt at National Stock Exchange (NSE) and fix accountability. The committee after a detailed examination would send its findings and recommendations to whole-time member Madbhi Puri Buch, to decide the future course of action, said two people in the know. The panel, which is currently chaired by Ashok Jhunjhunwala of IIT Madras, is learnt to have sought an explanation over two key issues from NSE: One on the effectiveness of interoperability as it was unable to migrate the trading positions; the other on laxity in switching it to the disaster recovery site.
The listing would help the company expand.
BSE Midcap and BSE Smallcap indices hit their fresh lifetime highs for the second day in a row
On one hand, South Indian states have been complaining about denial of a proportionate portion of the sharable funds from the Centre, based on population. On the other hand, they stand to lose Lok Sabha and Rajya Sabha seats that again are based on population, points out N Sathiya Moorthy.
The Madras high court has ordered the winding up of private carrier SpiceJet Limited and directed the official Liquidator attached to the high court to take over its assets, in a plea filed by a Swiss company over unpaid dues. The court was allowing a company petition from Credit Suisse AG, a stock corporation registered under the laws of Switzerland, which prayed for winding up of the Indian firm under the provisions of the Companies Act, 1956 and appoint the Official Liquidator of the high court as the liquidator with all powers under Section 448 of the Companies Act to take charge of SpiceJet's assets, properties, stock in trade and books of accounts. The "respondent company (SpiceJet) has miserably failed to satisfy the three pronged test suggested by the Supreme Court in Mathusudan Govardhandas & Co v Madhu Woollen Industries (P) Ltd, and hence had rendered itself liable to be wound up for its inability to pay its debts under Section 433 (e) of the Companies Act 1956," Justice R Subramanian said in his order on Monday and directed the private carrier be wound up and the official liquidator take over its assets.
The IIT-Madras alumnus, who moved to Canada for an MBA programme and settled there, is not new to investing in India.
All listed firms were required to have at least one woman director on their boards from April 1, 2015, as per a Sebi directive.
Amitabh Bachchan was preparing to pack up his bags and return to Allahabad if Zanjeer failed.
The brand image, however, may not tarish further as it will have already taken the beating due to consistent injury
Fairfax Financial Holdings made three investments in a month
The Indian Institute of Science, Bangalore and Indian Institute of Technology, Bombay were ranked among the Top 40 as per Times Higher Education BRICS and Emerging Economies Rankings 2015.
With the home ministry rejecting the renewal of broadcast licences to Sun group, is it end of the road for Maran brothers? R Ramasubramanian reports from Chennai.
The land price collected for the said land allotment will be refunded.
It has been a year since the Reserve Bank of India (RBI) initiated prompt corrective action (PCA), an exercise that puts weak banks under central bank scrutiny, against the 94-year-old Lakshmi Vilas Bank (LVB). But recently, this low-profile Chennai-headquartered bank found itself attracting some unwonted publicity when 60 per cent of its shareholders voted against a proposal to re-appoint seven directors, including one of the promoters, K R Pradeep (who holds around 2 per cent), and the company's managing director & chief executive officer S Sundar.
'If there is any industry that is unfit for modern corporate form it is the diamond trade.' 'But no one was asking the right questions.' 'The music was playing and so the game was on,' says S Murlidharan, former MD, BNP Paribas.
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