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.
Amendment to the Act, sovereign guarantees, investment portfolio, realty holdings, and governance issues to shape valuation.
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.
'Why are FMPs used as a vehicle for promoter funding against listed shares?' asks Debashis Basu.
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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.
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.
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.
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.
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.
While the recent volatility in the secondary markets is a concern, experts believe the sentiment towards IPOs is still buoyant.
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.
Offer size could vary from Rs 1,200 cr to Rs 2,000 cr
"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.
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.
When Sahara sought SAT's intervention against Sebi's orders, the tribunal said they will not.
Taking a cue from Zomato's stellar initial public offering (IPO), through which it garnered a valuation of Rs 1 trillion, the government has asked its advisors and valuers to ascertain if the Life Insurance Corporation of India (LIC) should be valued at Rs 10 trillion or more. The government is looking to offload about 10 per cent stake in LIC through the IPO. At that valuation, the government stands to net at least Rs 1 trillion from LIC's proposed IPO, which will boost the Centre's efforts to meet its disinvestment target of Rs 1.75 trillion for the current financial year.
Kishore Biyani-led Future Retail Ltd (FRL) on Monday said it is "reviewing" the Delhi high court order that has rejected its plea to restrain Amazon from writing to regulatory authorities about the SIAC arbitral order against its asset sale under a Rs 24,713 crore deal with Reliance. FRL, in a regulatory filing, said it would submit a brief summary after consultation with legal advisors.
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Firms with low promoter holding may get to buy shares from secondary market.
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.
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.
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.
New insider trading norms will help to nab market manipulators
The system is a centralised database of all complaints, wherein the investor is to be enabled to view the current status and action taken.
The airline's 100 per cent shareholding in profit-making budget carrier Air India Express as well as 50 per cent shareholding in equal joint venture Air India SATS Airport Services would also be sold.
Close to a million small shareholders have stake in nine NCLT-bound companies
Financial planners also believe that retail investors should avoid the IPOs or direct stock route because it is too risky for them.
Kishore Biyani-promoted Future group's venture capital arm, Future Ventures, has revived its plans to hit the capital market and will be initiating listing formalities by filing a prospectus with market regulator Sebi on Wednesday.
With the Russia-Ukraine war roiling financial markets globally, the government may defer the mega IPO of LIC and wait for an opportune time to get the maximum value of its holding in the state-owned insurance behemoth, sources said. "It's a full blown war now so we will have to assess the situation for going ahead with the LIC IPO," a government source said. Finance Minister Nirmala Sitharaman, too, had indicated review of the IPO in view of the evolving geopolitical situation.
Indian stock market regulator, the Securities and Exchange Board of India, on Tuesday paved the way for Indian investors to trade in large indices of 24 global exchanges, including that of the United States, Europe and Asia.
Most listed corporate entities in the country are in a fix. With the sudden declaration in late March of a nationwide lockdown to tackle the Covid-19 pandemic, the final calculations of their financial results for the year 2019-20 (FY20) are hanging in limbo. Till April 19, only 41 of the 3,947 companies listed on the BSE have managed to finalise the dates for the declaration of their yearly financial results.
The Enforcement Directorate had asked for financial details from both public and private sector banks and a part of these details were submitted last week
