Fundraising by Indian corporates through equity and debt reached all-time high in the calendar year 2024, according to primedatabase.com. The overall public equity fundraising stood at Rs 3.7 trillion in 2024, a rise of 159 per cent from Rs 1.4 trillion in 2023. If Rights Issues of Rs 25,973 crore were to be added, the overall equity fundraising would touch nearly Rs 4 trillion in 2024.
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.
The new wing will be known as the corporate finance investigation department, which will be headed by one of Sebi's executive directors. This department will have information technology solutions experts, particularly to detect the menace of frauds.
The Securities Appellate Tribunal has stayed a Sebi order that barred Franklin Templeton's Asia Pacific head Vivek Kudva and his wife Roopa from the securities market for one year.
Madhabi Puri Buch, the first female chairperson of Sebi, doesn't plan to rest on her laurels in her third and final year in office and has set out an ambitious goal, such as moving towards a same-day and instantaneous settlement cycle for the secondary market.
Operator syndicate could be behind stock hammering, suspects regulator.
Sebi had directed some of these companies to wind up their unregistered schemes and repay investors.
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.
Sebi chief Ajay Tyagi on Wednesday said many companies are lacking on the disclosure front and asked such firms not to treat it as a check box exercise. Sebi rules primarily require listed firms to have two sets of disclosures - periodic disclosures where formats have been prescribed by the regulator; and disclosures of material events where certain events have been deemed as material and must be disclosed, and the others to be disclosed if considered by the company and its board to be material.
The second-longest serving chairman introduced quite a few measures for the primary market and implemented a new corporate governance framework.
FPIs would be classified into two categories instead of three, while the requirements for issuance and subscription of offshore derivative instruments would be rationalised.
Sebi has long struggled with balancing the needs of small investors and those of the market.
The Adi/Nadir Godrej family, along with other family members/trusts, has made an open offer to the shareholders of Astec Lifesciences to acquire an additional 26 per cent stake from the public as part of the family settlement agreement (FSA), according to an announcement to the stock exchanges on Wednesday. The offer, made at the price of Rs 1,069.75 per share, was triggered by the Adi/Nadir family's plan to acquire a 20.84 per cent stake in Godrej Industries (GIL) from the Jamshyd Godrej/Smita Crishna Godrej family, according to the FSA announced on Tuesday.
Market regulator Securities and Exchange Board of India is considering measures to smoothen the procedures of cross-listing of companies on bourses in India and abroad, its Chairman C B Bhave said on Monday. The market regulator's comments came close on the heels of remarks of New York Stock Exchange Euronext CEO Duncan L Niederauer that the exchange was considering listing in Asian markets, including India.
Sebi splits CMD post and has directed listed companies to have at least six directors and at least one of them needs to be a woman.
Interception of electronic communication should also be covered in the powers being sought, the report said.
Could address the concerns over Companies Act provision on the issue
The board also approved a proposal to tighten the rules for participatory notes through imposition of a regulatory fee on issuers of such instruments.
Market regulator also announces measures for mutual funds sector.
During the first eight months of CY24, 50 IPOs mobilised Rs 53,453 crore.
Today, when corporate governance practice has become a priority issue, a vast majority of India Inc feels there is a need for stronger regulatory review and enforcement, according to a report by the international consultancy firm KPMG.
Billionaire Gautam Adani's group on Monday announced its exit from FMCG joint venture Adani Wilmar by selling its entire stake to the Singaporean partner and in the open market for an estimated over $2 billion in a first major deal since the US bribery indictment. In a statement, Adani Enterprises Ltd -- which held 43.94 per cent stake in Fortune brand cooking oil, wheat flour and other food product maker Adani Wilmar Ltd -- said it will sell 31.06 per cent stake to Wilmar International. About 13 per cent will be sold in the open market to meet minimum public shareholding requirements.
The finance ministry is in favour of extending the August deadline for public sector banks (PSBs) as well as insurance companies to increase their minimum public shareholding (MPS) to the mandated 25 per cent, said a senior government official. "The election results will determine the course of action. "Most likely, those who did not receive an extension to meet the minimum shareholding norm will be granted one," the senior government official said.
The markets regulator made it easier for banks to acquire control in listed companies.
This may mean easier access, simplified KYC and documentation requirements, and fewer investment restrictions for a majority of FPIs, especially broad-based funds and pooled vehicles that were earlier part of Category-II.
Stock exchanges are expanding the buffet of index derivatives even as the number of stocks permitted to trade in this space, generating an average daily turnover of Rs 450 trillion, is shrinking. This week, the National Stock Exchange (NSE) started issuing futures and options (F&O) contracts based on the Nifty Next 50 Index, bringing the total count of index derivatives to five.
'Many do not have robust business models, and their prospects of survival and long-term growth are poor.'
Legal experts fear such shareholder activism could turn into a class-action suit against Infosys
Most of these alleged tax evaders hail from Kolkata, Mumbai, Ahmedabad, Surat, and Delhi.
The revised date for phase I and phase II examination for the recruitment of officers in Grade A will be informed in due course.
Sebi's move to reduce time period required between subsequent QIPs to two weeks would help companies raise capital at regular intervals and time their share sale better.
E-commerce major Amazon has written to Sebi yet again, apprising the market regulator of the formation of the arbitration tribunal at SIAC while urging it to suspend the review of the Rs 24,713 crore Future-RIL deal. It has also filed an appeal with the division bench of the Delhi high court against the December 21 order of the single member bench, according to sources.
'He will be remembered more for what he did as finance minister -- as someone who functioned well when the political fallout was taken care of.'
Each scam that comes out in the open shows the regulators to be miles behind.
These benefits would only be available to individuals and corporates, and professionals like auditors will not be able to use this route as they are duty-bound to report any wrongdoing.
While the market regulator's recent note on portfolio management schemes has kicked up a storm, that is not the only pain point for businesses, says N Sundaresha Subramanian.
The final guidelines should be there in 3-4 months.
According to analysts, 11 PSUs, including Rashtriya Chemicals and Fertilizers and State Bank of Mysore, have government holding beyond the 90 per cent mark and the government will have to bring it down.
In January, Sebi had barred Mallya and six former officials of USL from securities markets in a case related to illegal fund diversions.
Market regulator scours platforms to establish link between traders and those who share info.
