The Zee saga will see a long-drawn-out court battle before shareholders get any chance to vote on any proposal by the management or Invesco, says Prosenjit Datta.
It's raining IPOs, with eight issues hitting the market in a span of six days. However, the pace of new filings points to a deluge during the latter part of the year. So far this year, 58 companies have filed their draft red herring prospectus (DRHP) with the market regulator for initial public offerings (IPOs), exceeding the combined tally of 50 in the last two years. Industry participants said the filing count could cross 100 this year, setting a new benchmark in terms of amount mobilised in a calendar year.
To be listed on the main boards of the NSE and BSE, these exchanges will have to have Rs 10 crore of minimum paid up capital.
The lock-in would be for a period of six months.
Benchmark AMC's scheme is called silver BeES and each unit issued under the scheme will be equal to price of 100 grams of silver. The entry load for the fund will be 2.25 per cent during the new fund offering (NFO).
Billionaire Mukesh Ambani-led Reliance Retail on Thursday said it has acquired sole control of 25-year-old search and discovery firm Just Dial. The firm's subsidiary Reliance Retail Ventures Ltd had in July announced a deal to buy a controlling stake in Just Dial for Rs 3,497 crore. Further to that announcement, "RRVL has now taken sole control of Just Dial Ltd in accordance with the SEBI Takeover Regulations with effect from September 1, 2021."
Sebi had given an extension last year for PSUs to meet 25% minimum public shareholding rule
It asked the Sahara chief to discuss the roadmap for future payments with amicus curiae Shekhar Naphade and Sebi, and said if they are convinced, the court could look into it
BSE, the oldest stock exchange in Asia, aims to raise up to Rs 1,243 crore from the IPO, which has a price band of Rs 805-806 per share.
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At the last hearing on October 11, SAT had suggested to Sebi to look at considering the RIL application for a consent settlement that allows companies and individuals to settle disputes by paying a fine without admission or denial of the alleged wrongdoing.
On the occasion of the National Stock Exchange's (NSE's) silver jubilee celebration, its MD and CEO Vikram Limaye, bottom, left, spoke to Somesh Jha to discuss the way forward and how the exchange plans to deal with the present set of issues.
'Why are FMPs used as a vehicle for promoter funding against listed shares?' asks Debashis Basu.
Amendment to the Act, sovereign guarantees, investment portfolio, realty holdings, and governance issues to shape valuation.
The Finance Ministry said that complaints against seven of them are being examined by Sebi, while the markets regulator has prima facie found two other firms to be running Collective Investment Scheme (CIS) and suitable actions are being taken against them.
Wealth management seems to have moved from family office solutions to CXO office solutions.
Sebi has approved the norms for financial institutions setting up shop at GIF City in Ahmedabad.
Commenting on the Sebi's direction, Taurus Mutual Fund managing director R K Gupta said the companies coming out with these instruments will have to meet disclosure norms as per the listing agreement with Sebi like coming out with quarterly results and other price-sensitive information.
The amount of money lying unclaimed with the Life Insurance Corporation of India dwarfs the budgets of many ministries. There was Rs 21,539.5 crore which lay unclaimed with India's largest insurance company, according to details in the initial public offer (IPO) document it filed over the weekend. The regulatory documentation is ahead of LIC selling shares to the public through the stock exchange for the first time this financial year. This will be India's largest ever public listing.
It's a new modus operandi of scamsters to dupe investors, warns Sebi
Law minister clears Sebi's regulation on put and call options.
As part of their surveillance mechanism and to safeguard the interest of investors, leading bourses BSE and NSE have suggested extra due diligence in trading of illiquid stocks.
In its guidelines for submission of initial public offer applications through a nationwide network of brokers, physically or electronically, market regulator Sebi has made provisions for payment of a commission to such brokers by the IPO-bound companies.
Yes Bank was the top loser in the Sensex pack, crashing 8.36 per cent, followed by NTPC, M&M, Vedanta, Sun Pharma and TCS, which lost up to 4.81 per cent lower.
"Our order (over share price manipulation on listing day) is only interim in nature. We are probing further and you can expect more orders in this case," said the official on condition of anonymity.
Offer size could vary from Rs 1,200 cr to Rs 2,000 cr
The central bank's move comes against the backdrop of the government efforts to crackdown on entities, that are illegally raising large amounts of money from the public.
The government on Friday notified the rules for insolvency and liquidation proceedings of financial service providers (FSPs). These rules, notified by the ministry of corporate affairs, will not be applicable to banks, reports Ruchika Chitravanshi.
When Sahara sought SAT's intervention against Sebi's orders, the tribunal said they will not.
While the recent volatility in the secondary markets is a concern, experts believe the sentiment towards IPOs is still buoyant.
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Firms with low promoter holding may get to buy shares from secondary market.
A list of 25 companies that are suspected to be operating bogus demat accounts has been handed over to market regulator SEBI by Investor Grievance Forum demanding a probe into their operations.
A criminal case has been registered against the group by the agency in connection with non-payment of crores of rupees to depositors after it got some fresh reports in this regard from the Sebi.
In a major consolidation in the domestic IT industry, MindTree, a listed IT services company, will acquire Aztecsoft, another listed outsourcing product development firm. MindTree, which has bought four companies in the last eight years, will acquire 32.57 per cent stake in Aztecsoft from e4e Holdings, Mauritius, in an all cash deal for around Rs 117 crore (Rs 1.17 billion).
Ruias-led Essar Group on Friday launched a scathing attack on Vodafone saying that the British company is trying to gain 100 per cent control of the telecom JV Vodafone-Essar at an "artificially depressed value".
2015 is set for a lot of changes - and some that we would like to happen
Cleaning up India's grubby business climate is top of the agenda for both regulators and the government.
The system is a centralised database of all complaints, wherein the investor is to be enabled to view the current status and action taken.
New insider trading norms will help to nab market manipulators
Close to a million small shareholders have stake in nine NCLT-bound companies
