The offer is to close on April 26 and the price is fixed at Rs 1,440 a share.
Moves Bombay HC against CIC order issued in 'public interest'
'I was shocked by the kidnapping episode. I could have lost my life.'
Experts say the trend is worrying as it could take a toll on the pace of equity flows and also hinder the penetration drive of the Rs 24-trillion MF industry.
Sebi's main contention against brokers is that the NSEL was offering paired contracts and they were forward contracts, which were "illegal".
In a circular, Sebi said QFI would now mean a resident in a country that is a member of the Financial Action Task Force or a member of a group which is a member of FATF.
Under the modified agreement, the issuing company will have to treat all holders of IDRs on a par with shareholders in its home country.
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.
Distant booms of the guns broke early Saturday morning slumbers of residents of Sunjwan garrison town on the outskirts of Jammu.
Government auditor CAG has rapped five regulators, including Sebi, Irda and PNGRB, for keeping their surplus funds worth over Rs 2,142 crore collected through fee and penalty outside the government accounts.
Finance firms in these SEZs likely to get tax breaks.
We have seen great strides in all-around cooperation, Chinese foreign ministry spokesperson said.
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.
Private equity (PE) is set to play a bigger role in banks. Of 21 recommendations accepted by the Reserve Bank of India (RBI) out of 31 made by its Internal Working Group (IWG), its stance on non-promoter holdings in private banks is seen with excitement, though it doesn't refer to PEs explicitly. On non-promoter holdings in these banks, the RBI said this will be capped at 10 per cent of the paid-up voting equity share capital in the case "of natural persons and non-financial institutions and entities"; and "at 15 per cent for all categories of financial institutions, entities, supranational institutions, public sector undertaking, or the government." While this is a modification of the IWG's stance for the non-promoter holding in banks at up to 15 per cent, it does open up a huge window for PEs, all the same. This is because, while the RBI has remained silent on the eligibility of industrial houses for bank licences, fresh high-quality capital in large amounts can only come from PEs.
US regulator seeks Sebi's help in probing online Ponzi scheme run by duo under American names
Market regulator, the Securities and Exchange Board of India, has set out five broad categories for mutual fund schemes, including equity, debt and hybrid funds that will benefit investors, says Ashley Coutinho
Prime Minister Narendra Modi strongly condemned the attack.
Simultaneous elections to Lok Sabha and state assemblies can help reduce difficulties in terms of expenditure and management, President Pranab Mukherjee said on Wednesday and asked the Election Commission to take the initiative in bringing political parties on one platform to discuss the issue.
The Securities & Exchange Board of India (Sebi) pulled up investment bankers for holding the interests of promoters above those of investors. "If you look at maximising the price for promoters, then obviously you are not looking after the interests of investors," said Sebi Chairman C B Bhave.
Jignesh Shah, the promoter of Financial Technologies India Ltd, on Wednesday resigned from the board of MCX Stock Exchange, amid continuing Rs 5,600 crore (Rs 56 billion) payment crisis at group company NSEL.
Finance Secretary Ashok Chawla, in an impromptu chat with reporters, sided with Sebi, while Planning Commission Deputy Chairman Montek Singh Ahluwalia cited the spat to make a case for setting up a Financial Development and Stability Council (FSDC).
The company said the committee, headed by independent director D Sundaram and assisted by independent legal counsel Shardul Amarchand Mangaldas & Co, and PricewaterhouseCoopers, found that the "allegations are substantially without merit".
The Gujarat International Finance Tech-City, or Gift City, is expected to be spread over 886 acres and will have a special economic zone on 261 acres.
FMC has been asked to go ahead with the appointment of 20 experts, which the commission had sought earlier.
Uber's draft prospectus for the biggest IPO in the world since Alibaba's in 2014 has projected a major cash burn for Uber in trying to get a significant market share in India, reports Karan Choudhury.
India's largest private lender ICICI Bank has been fined Rs 220,000 ($5,120) by Hong Kong's Securities and Futures Commission for breach of licence rules and was ordered to further reimburse investigation costs.
The issue has gained importance as a working group of International Organisation of Securities Commission (IOSCO) has been set up to study the impact of private equity funds on emerging markets.
The process has been suspended for the time being as Agriculture, Food & Consumer Affairs Minister Sharad Pawar, a political heavyweight, is opposed to any intrusion into his turf.
The Delhi high court's division bench has stayed the single bench order favouring the emergency award against the Future-Reliance deal and imposing a Rs 20 lakh fine on Kishore Biyani & other respondents. including FRL and FCPL.
The government has reopened the case for convergence between the capital market and commodity futures regulator, a move that has attracted opposition from the Forward Markets Commission, which regulates the commodities futures business.
The Delhi high court on Thursday upheld the Singapore Emergency Arbitrator's (EA) order restraining Future Retail Ltd (FRL) from going ahead with its Rs 24,713 crore deal with Reliance Retail to sell its business, which was objected to by US-based e-commence giant Amazon.
In November, Kotak Mahindra Bank had announced the buyout of ING Vysya Bank in an all-stock deal valued at Rs 15,000 crore (Rs 150 billion).
Market regulators of India and Mauritius inked a crucial agreement, on Thursday, for sharing of information on securities dealings, which would assist Sebi to dig deep into the securities scam of 2000-01 and prevent similar incidents in future.\n\n\n\n
Chinese foreign policy will acquire a more ideological and less pragmatic character. It will be conducted with more nationalist overtones, predicts former foreign secretary Shyam Saran.
"Issue should be closed within 1-2 months," Manohar Parrikar said.
Asset management companies have been told not to deal with non-compliant intermediaries. They are to report such cases to the Association of Mutual Funds in India (Amfi) and Sebi.
Pakistan's powerful Army Chief Gen Raheel Sharif's visit to Beijing comes in the backdrop of assertions by Pakistan that it will raise its concerns at the international level over India's successful test of supersonic interceptor missile.
The Pakistani army again violated the ceasefire on Tuesday by firing on forward areas along the Line of Control in Poonch district, prompting Indian troops to retaliate.
