In the current calendar year, small and medium enterprises (SMEs) have witnessed an impressive surge in initial public offerings (IPOs), surpassing the 2018 record. Over 150 SME IPOs have been introduced to the market, breaking the previous record of 141 set in 2018. According to data from PRIME Database, a primary market tracking firm, 147 companies successfully concluded their debut share sales by the end of October, raising a cumulative Rs 3,727 crore.
Sebi had directed some of these companies to wind up their unregistered schemes and repay investors.
The proposal has been discussed by Sebi's Committee on Rationalisation of Financial Resources, which favours setting up such a fund.
Under U K Sinha, Sebi became a pan-India organisation with local offices in 16 cities
A global association for regulated funds that is leading efforts to shorten the settlement cycle for US equities has reached out to the Securities and Exchange Board of India (Sebi) with a plea to extend the T+1 implementation timeline by 18 months. The short transition period of four months does not provide foreign portfolio investors (FPIs), their services providers, and broker dealers sufficient time to make the necessary operational and compliance changes to accommodate a shorter settlement cycle, ICI Global said in its letter addressed to Sebi chairman Ajay Tyagi written a few days back. ICI Global carries out the international work of the Investment Company Institute (ICI), a global association for regulated funds, whose members manage assets of more than $42 trillion.
Independent directors
Sebi directs freezing of all demat accounts not linked to Aadhaar by December 31
Sebi also approved new delisting rules.
Violation of provisions of Sebi Act, Securities Contracts regulation, Prohibition of Fraudulent Trade (PFTUP) norms were not observed in respect of these 114 entities.
The new powers are aimed at making Sebi more effective in protecting investor interest and helping it to better regulate the market.
The Ministry of Finance's Directorate of Enforcement should also be made a part of the state-level coordination panels,
Sebi has decided to lay out strict timelines for completion of actions.
Technical analyst will not be able to give contrary recommendations regarding a company
The IPO of state-owned steel maker RINL is scheduled to hit the markets in the current fiscal, and the Cabinet has already accorded its approval for the stake sale.
Japan's Sony Corporation, which is merging its Indian television content company with Zee Entertainment Enterprises, is likely to seek a fresh forensic audit of the company after market regulator Sebi levelled fund diversion charges against Zee promoters, top lawyers said. The Sebi also barred Zee founder Subhash Chandra and its Chief Executive Officer (CEO) Puneet Goenka from holding any position as director. "As the Sebi has made fund diversion charges, which may change the nature of audited reports already filed, the acquirer (Sony) can seek a fresh forensic audit," said H P Ranina, a corporate lawyer.
These websites may shut shop soon.
Besides bank accounts, Sebi has also in various proceedings ordered depositories, NSDL and CDSL, to attach the demat securities accounts of the erring entities.
Three leading domestic voting advisory firms are not on the same page over the proposed demerger and separate listing of ITC's hotel business, ITC Hotels. Institutional Investor Advisory Services (IiAS) has recommended a vote "against" the resolution, while InGovern and Stakeholders Empowerment Services (SES) have advised their clients to vote in favour. Voting on the resolution is currently underway.
In a circular dated May 20, Sebi had directed the listed companies to evaluate the impact of Covid-19 on their capital and financial resources, profitability, liquidity position, assets, and ability to service debt. Instead, companies have spoken about the number of plants, warehouses and distribution centres that have resumed operations; work-from-home and safety measures undertaken for employees; and the labour shortage they are facing.
The mutual fund (MF) industry had an action-packed 2023 as it tackled the scrapping of tax benefits for debt fund investors and surging flows into equity funds.
'If equities perform well in a year, withdraw money from equities. If the equity market is down, shift withdrawal to the debt portion.'
The regulator last week reached out to custodians for beneficial ownership information of investors coming from China, Hong Kong, and 11 other countries.
He alleged that besides Modi and Shah, Finance Minister Nirmala Sitharaman had also commented on the stock markets ahead of elections, which has never happened in the past.
Market experts said disruptions caused by the pandemic - to businesses as well as the filing process - and the sharp decline in valuations were the reasons behind fewer new companies wanting to tap the capital markets.
The second-longest serving chairman introduced quite a few measures for the primary market and implemented a new corporate governance framework.
Capital markets regulator Sebi on Wednesday came out with a cybersecurity framework for all portfolio managers having an asset base of at least Rs 3,000 crore. The new guidelines will come into force from October 1, 2023, the Securities and Exchange Board of India (Sebi) said in a circular. Under the framework, Sebi asked portfolio managers to report all cyber-attacks and breaches experienced by them within 6 hours of detecting such incidents.
The aggrieved investors of National Spot Exchange (NSEL) have moved the Securities and Exchange Board of India (Sebi) against Financial Technologies (FTIL), the listed promoter.
Revenue dept says changes in I-T Act require Parliament nod; new regime to wait till Budget in June-July 2014.
The agency has done five advertisements so far.
Those who want to invest should consider their risk appetite. Youngsters may go for it as they have a longer horizon to recover from a setback.
Decision to outsource its investor helpline comes within weeks of Sebi deciding to rope in third-party agencies for processing and maintenance of investor grievances.
Ramalingam Kalirajan explains the pros and cons of both investment types.
India's real estate market is poised for growth across categories - residential, commercial, and rental. Currently valued at Rs 24 trillion, or about $300 billion, it is projected to surge to $1.3 trillion by 2034, and then grow further to $5.17 trillion by 2047, indicates a report by the Confederation of Real Estate Developers Associations of India (Credai).
'Business families like the Godrej group are increasingly realising that an amicable settlement is better.' 'Else, the wealth of all shareholders gets destroyed.'
Regulator believes Jet Airways deal triggers open offer
Sebi has asked clearing houses to establish separate funds for all segments of the market including equity, debt and currency.
Unable to verify or trace a large number of bondholders in Sahara refund case, Sebi has begun a process to consult the business conglomerate for verifying the genuineness of such investors.
Do not, however, enter expecting quick returns.
Moreover, Ravi Narain and Chitra Ramkrishna -- who had served as MD and CEO of the exchange -- have been asked to disgorge 25 per cent of respective salaries drawn during a certain period.
Sebi's order comes close on the heels of Central Bureau of Investigation naming Mallya, Kingfisher Airlines and nine others, in the charge sheet related to the 2015 loan default case.
