Sebi will be taking a number of measures to develop a derivatives market of commodities.
'Subject to any worldwide economic collapse.'
'Expectations are high regarding the change in LTCG with respect to equity investments.'
E-commerce platform Snapdeal has filed preliminary documents with markets regulator Sebi to raise funds through an initial public offer (IPO), joining the league of internet-led businesses looking to list on domestic stock exchanges. The public issue comprises fresh issuance of equity shares worth Rs 1,250 crore and an offer for sale (OFS) of 3.07 crore equity shares, according to the draft red herring prospectus (DRHP). According to market sources, potential listing could value Snapdeal at about $1.5-1.7 billion.
'Opportunity is there in each segment of the market. There is opportunity in affordable and specifically governed by government initiatives as well as for housing for all.'
The Securities and Exchange Board of India (Sebi) has introduced an optional T+1 settlement cycle for the markets. T+1 means that settlements will have to be cleared within one day of the actual transactions taking place. The regulator has put the onus on the stock exchanges to decide whether they want to opt for the shorter settlement cycle for any of the listed scrips. This can be done after giving a one-month prior notice to all stakeholders.
The typical modus-operandi of such entities involves setting up of a company, followed by tall claims about their proposed business ventures.
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.
A Sebi spokesperson did not respond to an email seeking comments.
Feels earlier rules were not in interest of minority shareholders.
Without giving specific details, Sebi said that SBI was being probed for 'alleged violation of regulations' contained in as many as 11 sections, sub-sections and clauses, including those related to the Code of Conduct, of the Securities and Exchange Board of India (Debenture Trustees) Regulations.
As a result, the deadline for filing June quarter results ends on August 15. However, only 1,538 companies out of the 4,000-odd listed firms managed to declare their results within the usual deadline.
'Investors with a long-term investment horizon and the risk appetite for fluctuations in property values may find SM Reits a viable option.'
Such listings will help internationalise our currency, give us economic heft, compel best in class regulations and further develop the professional-services ecosystem., says Amit Tandon.
Market regulator Sebi on Wednesday proposed a new set of regulations for employee stock options, wherein certain restrictions imposed on companies for award of such allotments to staff members could be eased.
The new norms also seek to ensure that sufficient safeguards are put in place to avoid any misuse of its new powers and the required privacy of individuals is granted while conducting search and seizure operations.
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).
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Sebi on Monday decided to declare illegal mobilisation of funds as a "fraudulent and unfair trade practice".
"The defaults falling in the category of fraudulent and unfair trade practices, which in the opinion of Sebi are very serious and have caused substantial losses to the investors, shall also not be consented," the market regulator, which released a new framework for passing consent orders, said.
Apart from the emotional value attached to buying gold, the yellow metal offers protection against inflation, interest rate spikes, currency and geopolitical risks, says Anamika Pareek.
These entities have facilitated illicit transactions worth thousands of crores of rupees over the past 2-3 years
The government is planning to soon file the final papers for LIC IPO with market regulator Sebi, which will provide details about the price band, discount for policyholders and retail buyers, and the actual number of shares to be put on the block, an official said. The government is presently in the wait-and-watch mode because of the market volatility induced by the Russia-Ukraine war and will decide on the timing of the initial public offering (IPO) of Life Insurance Corporation (LIC). "We have got the approval of the DRHP and the next step would be to file the RHP, which will give details of the price band and the actual number of shares.
The mechanism would also need to have necessary safeguards to protect whistle-blowers from victimisation, while checks would also be required against any misuse of this facility aimed at encouraging directors and employees to report genuine concerns and any wrongdoings at their company.
Investor bodies have been repeatedly making the point that suspending companies from exchanges only plays into the hands of the promoters who do not have any intention to service investors.
The new norms were cleared by the Securities and Exchange Board of India in New Delhi on Thursday and the relevant provisions would be incorporated in the listing agreement soon, Sebi Chairman U K Sinha said.
Signalling an imminent change in SpiceJet's ownership, potential investors including co-founder Ajay Singh and US-based JPMorgan have begun discussions with markets regulator Sebi over their investment plan for the cash-strapped airline.
Real estate investment trusts (Reits) are in talks with regulatory bodies - the Securities and Exchange Board of India (Sebi) and the Reserve Bank of India (RBI) - to seek changes in regulations that will allow easier access to capital. The Indian Reits Association (IRA) said it has approached the market regulator seeking to get classified as an 'equity' asset, which will open the path for their inclusion in equity indices and also make investment by mutual funds (MFs) easier. The association is also in active discussions with the RBI to allow banks to lend to a Reit.
The new corporate governance norms for listed companies, currently being finalised by the Securities and Exchange Board of India, may also mandate greater disclosures regarding IPOs, sources said.
Taking action against promoters of Gillette India for non-compliance to minimum public holding norms, Sebi on Friday ordered freezing all corporate benefits arising out of their stake in the company.
The proposal has been discussed by Sebi's Committee on Rationalisation of Financial Resources, which favours setting up such a fund.
Strengthening of rules governing insider trading is among the key proposals in the agenda set by Sebi for 2018-19, along with making improvement to the Prohibition of Insider Trading Regulations (PIT) and Prohibition of Fraudulent and Unfair Trade Practices regulations.
Sebi (Substantial Acquistion of Shares and takeover) Regulations, 2011 will take effect on October 22.
Sebi first began looking into the matter last month.
The agency has done five advertisements so far.
Sebi has now said any default of payments of interest or principal on loans taken from financial institutions, including banks, will have to be disclosed if it continues beyond 30 days.
With an aim to recover fines from elusive offenders, capital markets regulator Sebi on Thursday introduced a reward system for up to Rs 20 lakh to informants for sharing information about the assets of defaulters. The reward may be granted in two stages -- interim and final. While the interim reward amount will not exceed two and a half per-cent of the reserve price of the asset regarding which tips was provided or Rs 5 lakh, whichever is less and the final reward amount will not exceed 10 per cent of the dues recovered or Rs 20 lakh, whichever is less.
Sebi has also asked the stock exchanges to set up a separate monitoring cell with identified personnel to ensure compliance with the new norms.
Sebi had also ordered the fund house to compensate investors who had redeemed their units since the date of allotment of shares in the I-Sec IPO.
Sebi widens fraudulent, unfair trade practices list
