IndiGo has been facing a probe by Sebi ever since a public spat came to light between two founders of the airline, including over certain related party transactions involving one of the warring promoters.
The exodus of foreign investments from Indian equity markets continued unabated, with FPIs pulling out nearly Rs 20,000 crore in the last five trading sessions on higher valuations of domestic stocks and shifting their allocation to China. As a result, foreign portfolio investors (FPIs) have turned net sellers in the equity market, with total outflows reaching Rs 13,401 crore for 2024 so far. Going ahead, the FPI selling trend is likely to continue in the near term till data indicate the piossibility of a trend reversal.
Markets regulator Sebi on Wednesday ordered attachment of bank accounts as well as share and mutual fund holdings of Rana Kapoor, former MD and CEO of Yes Bank, to recover dues of over Rs 1 crore. The decision has been taken after Kapoor failed to pay the fine imposed on him. Sebi, in September 2020, had levied a fine of Rs 1 crore on Kapoor for not making disclosures regarding a transaction of Morgan Credit, which was an unlisted promoter entity of Yes Bank.
Sebi on Monday barred Franklin Templeton AMC from launching any new debt scheme for two years and fined it Rs 5 crore for violating regulatory norms in the case of winding up of six debt schemes in 2020. Also, it has been asked to refund investment management and advisory fees to the tune of Rs 512 crore, including interest, collected with respect to the six debt schemes, Sebi said in its 100-page order. In a separate order, the regulator has barred Vivek Kudva, former head of Asia Pacific (APAC) for Franklin Templeton, and his wife Roopa from the securities market for one year for redeeming units of Franklin Templeton MF schemes while in possession of non-public information.
Data from Value Research analysed on five-year, three-year and one-year performances of active equity schemes to pick the best performers in popular scheme categories.
Asia Securities Industry & Financial Markets Association (Asifma) has raised concerns about the Securities and Exchange Board of India (Sebi) proposal to introduce a T+0 settlement cycle. The industry association of top foreign portfolio investors (FPIs) has stated that this move could give rise to several issues, including the bifurcation of the market, liquidity fragmentation, and deterioration of market quality. In a discussion paper floated last month, Sebi has proposed a separate same-day settlement cycle that will run parallel to the existing T+1 cycle, where trades are settled the next day.
While experts' views are divided, the move is aimed at improving the coordination between the government and the regulator.
Regulator Sebi on Friday imposed penalties on Reliance Industries Ltd, its chairman and managing director Mukesh Ambani as well as two other entities for alleged manipulative trading in the shares of erstwhile Reliance Petroleum Ltd (RPL) back in November 2007. Fines of Rs 25 crore and Rs 15 crore have been imposed on Reliance Industries Ltd (RIL) and Ambani, respectively. Besides, Navi Mumbai SEZ Pvt Ltd has been asked to pay a penalty of Rs 20 crore and Mumbai SEZ Ltd has been directed to pay Rs 10 crore. The case pertains to sale and purchase of RPL shares in the cash and the futures segments in November 2007.
Bengaluru-headquartered electric two-wheeler manufacturer Ather Energy is all set to file its draft red herring prospectus within the second week of September to the Securities Exchange Board of India (Sebi) for its maiden initial public offering (IPO), in which it is expected to raise over $450 million. On Tuesday, the fourth-largest electric two-wheeler maker in the country by volume raised Rs 600 crore from its existing investor, the National Investment and Infrastructure Fund (NIIF), catapulting itself into a unicorn with a valuation of $1.3 billion.
The company, backed by China's Ant Group, is planning to issue fresh shares worth Rs 7,500 crore in the IPO. This will make this India's third-largest offering after Reliance Power and DLF.
Growth-oriented technology companies have raised Rs 15,000 crore through initial share sales in the last 18 months and IPOs worth around Rs 30,000 crore by such firms are in the pipeline, Sebi chairman Ajay Tyagi said on Thursday. "Growing number of unicorns in the startup ecosystem is a testimony of the new age tech companies coming of age in our economy. These companies often follow a unique business model focusing more on rapid growth than immediate profitability," Tyagi said at an event organised by industry body CII. During the last 18 months, growth-oriented technology companies have raised a sum of around Rs 15,000 crore through IPOs (Initial Public Offerings).
Coming down heavily on MF players who in recent past chose to use shareholder fund to buy out debt of bleeding invested companies, Sebi said MFs can't have standstill agreements with companies and will take action against fund houses for such deals.
Domestic bourse BSE has approved the acquisition of a 50 per cent stake in index provider Asia Index (AIPL) from equal joint venture partner S&P Dow Jones (SPDJ) Indices for Rs 30 crore. AIPL, the index provider, is responsible for compiling and maintaining the widely followed Sensex, Bankex, and other indices. Passive funds with assets of nearly Rs 2 trillion are benchmarked with indices provided by AIPL.
The markets regulator, Securities and Exchange Board of India (Sebi), recently introduced fresh guidelines to determine the place of a mutual fund (MF) on its riskometer tool.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
Several investors wanting to invest in mutual fund schemes, amid the selloff in the market on Tuesday, were left in the lurch as online MF investment platforms failed to execute the transactions on time.
'Subject to any worldwide economic collapse.'
Many are attracted by the potential for large gains, but don't necessarily seem to understand that a single trade gone wrong can wipe out their accumulated profits.
Mid-cap and small-cap mutual fund schemes have continued to attract strong investor interest, garnering nearly Rs 30,350 crore in inflows during the April-September period of the current financial year, driven by impressive returns delivered by these segments. In comparison, the cumulative inflow into mid-cap and small-cap funds stood at Rs 32,924 crore during the same period last year, according to data from the Association of Mutual Funds in India (Amfi).
As the country moves towards creating a spot gold exchange, markets regulator Sebi's whole time member G Mahalingam on Wednesday suggested routing all the imports of the precious metal through the exchange ecosystem in the future. Such a "funnelling" would ensure that gold monetisation takes place right at the source as the metal enters the country, he said while addressing a conference organised by industry lobby Ficci. However, he also noted that the issue has not been dealt with in the papers floated by Sebi.
The IPO market will be bustling next week, with four companies, including Bajaj Housing Finance, set to launch their initial share-sale to raise a total of Rs 8,390 crore. Besides these four main-board IPOs, nine SMEs are preparing to debut with their maiden public issues next week, targeting to collect Rs 254 crore. Together, these 13 firms are looking to raise Rs 8,644 crore through IPO.
The BJP accused Congress leaders of colluding with foreign forces to destabilize India and demanded Sonia Gandhi to disclose her role in a George Soros Foundation-funded organization's activities. The ruling party also attacked Rahul Gandhi, calling him a "pawn" for his protests against the Adani issue.
The Congress on Wednesday said the Supreme Court judgment on certain matters relating to transactions by the Adani Group has proven to be 'extraordinarily generous' to Securities and Exchange Board of India (SEBI) and asserted that the party's fight against crony capitalism and its ill-effects on prices, employment and inequalities will continue.
Sebi has barred fugitive businessman Mehul Choksi and one Rakesh Girdharlal Gajera from the capital markets for one year and levied a fine totalling Rs 2.5 crore on them for violating insider trading rules in the matter of Gitanjali Gems. In addition, they have been restrained from buying, selling or otherwise dealing in securities of Gitanjali Gems Ltd (GGL) for a period of two years. Also, the Securities and Exchange Board of India (Sebi) has directed Gajera to disgorge a sum of Rs 15.82 crore.
Capital markets regulator Sebi has extended the deadline for implementation of rules related to mandatory confirmation or denial of market rumours by the top 100 listed companies. The deadline has been extended for the top 100 listed companies by market capitalisation to June 1 from February 1 this year at present, according to a circular by the Securities and Exchange Board of India (Sebi). For the top 250 listed entities, the rule will kick in on December 1, 2024, from the current requirement of August 1, 2024.
The watchdog would provide an additional option to the existing pricing methodology for preferential issuances.
The National Stock Exchange (NSE) of India is going to indefinitely defer the internal deadline set for extending trading hours, according to sources in the know. The exchange aimed to introduce a three-hour evening session exclusively for index derivatives by March 2024, contingent upon regulatory clearance from the Securities and Exchange Board of India (Sebi). Sources indicate that the market regulator has not provided a favourable indication, dimming optimism surrounding the proposal.
From the 30 Sensex firms, Larsen & Toubro, Reliance Industries, Axis Bank, Asian Paints, Tata Motors, Bajaj Finance, Maruti, Bajaj Finserv, Kotak Mahindra Bank, Titan, Adani Ports and HDFC Bank were the major laggards. JSW Steel emerged as the only gainer.
Although a one-off tax provision negatively impacted the bottom line, HDFC Asset Management Company (HDFC AMC) posted an excellent operational performance in Q2FY25. The equity quarterly average assets under management (QAAUM) growth was 14.7 per cent quarter-on-quarter (Q-o-Q). And, equity AUM market share rose 50 basis points (bps) year-on-year (Y-o-Y) to 12.9 per cent.
'If you invest in a rush at the last moment, you could compromise on selecting the best tax-saving options.'
'A dynamic bond fund acts like a gilt fund in a rate cut scenario and like a conservative short-term bond fund when rates rise.'
Markets regulator Sebi is contemplating reforms in the IPO norms, especially on the book building, fixed price aspects and certain provisions pertaining to price band, its chief Ajay Tyagi said on Wednesday. Apart from initial public offer (IPO), the regulator is looking into further reforms on preferential issue front, Tyagi said at the FICCI's annual Capital Market Conference. He further said that the focus on review of equity fund raising norms will continue in the near future.
'Somebody was using somebody to make statements that will stir the stock market and lead to a surge.' 'A sudden surge and a sudden crash is always an ideal situation for people to make illicit gains and then siphoning off the money.'
Markets regulator Sebi on Tuesday proposed to rationalise the definition of 'promoter group' and move to the concept of 'person in control' as well as reduce the minimum lock-in periods for promoters' and other shareholders post an IPO. In a consultation paper, the watchdog has also suggested streamlining the disclosures requirement of group companies. The Securities and Exchange Board of India (Sebi) has sough comments from public on the proposals till June 10.
To strengthen corporate governance practices and disclosure requirements, Sebi on Thursday decided that top-1,000 listed firms should formulate a dividend distribution policy.
Finance Minister Nirmala Sitharaman on Tuesday said the securities transaction tax (STT) will be increased on futures and options (F&O) trade from October 1 to discourage retail investors from investing in the risky instrument.
The initial public offerings (IPOs) by small and medium enterprises (SMEs) hit a new high in 2023-2024 (FY24). In this financial year, data from the Prime Database showed that 190 companies raised Rs 5,579 crore through the SME IPO route. This financial year's tally bettered the fundraising in the previous financial year when 125 companies raised Rs 2,235 crore.
Capital markets regulator Sebi on Thursday imposed penalties totalling Rs 11 crore on 8 entities, including National Stock Exchange (NSE) and its former chiefs Chitra Ramkrishna and Ravi Narain, in a case pertaining to software related to algorithmic trading. The regulator has levied a fine of Rs 1 crore each on NSE, Ramkrishna and Narain. Also, a fine of Rs 1 crore has been imposed on Suprabhat Lal, who was a NSE official at the time of violation.
Sebi on Wednesday imposed a total penalty of Rs 25 crore on Mukesh Ambani, Anil Ambani, other individuals and entities for non-compliance with takeover norms in a Reliance Industries case dating back to 2000.
In a tribute to GVR, former Sebi chairman C B Bhave says, a brilliant mind, he delighted in hard work and meticulous preparation.
