'Investors with a long-term investment horizon and the risk appetite for fluctuations in property values may find SM Reits a viable option.'
Equity fundraising through initial public offerings (IPOs) rose 20 per cent during the financial year 2023-24 (FY24). During the period, 76 Indian corporates raised Rs 61,915 crore through main board IPOs, compared to Rs 52,116 crore mobilised by 37 IPOs in 2022-23, as disclosed by PRIME Database. However, if one excludes the mega Life Insurance Corporation (LIC) IPO, which came out in 2022-23, IPO mobilisation increased by 58 per cent from last year.
'Credit card debt comes with high interest cost and stringent penalties.' 'If you do not repay on time, the costs balloon.'
Sebi has asked intermediaries to stagger the offerings as much as possible, said people in the know and ensure adequate capacity building.
Benchmark equity indices Sensex and Nifty slumped over 1 per cent on Friday, tracking a weak trend in global markets and fresh foreign fund outflows. Falling for the third day running, the 30-share BSE Sensex tumbled 1,017.23 points or 1.24 per cent to settle at 81,183.93.
The searches follow a probe into circulation of unpublished price sensitive information about various listed companies, including some blue chips, through WhatsApp messages and social media chatrooms.
Sebi has now proposed that the Companies Act should also clearly mention that a person should vacate the office of a director if it orders his or her disqualification.
As there is a moderation in car sales, dealer stock levels across the entire industry have surged to alarming heights. However, the situation is under control at HMIL.
Bajaj Housing Finance Ltd's impressive stock market debut has brought cheer to the 100-year-old Bajaj Group, but the conglomerate faces the prospect of Bajaj Finserv being removed from the benchmark Sensex index. According to market expectations, Trent, a Tata group-owned fashion retailer, is likely to replace Bajaj Finserv during the upcoming index rebalancing in December.
Equity fundraising through initial public offerings (IPOs) rose 20 per cent during the financial year 2023-24 (FY24). During the period, 76 Indian corporates raised Rs 61,915 crore through main board IPOs, compared to Rs 52,116 crore mobilised by 37 IPOs in 2022-23, as disclosed by PRIME Database. However, if one excludes the mega Life Insurance Corporation (LIC) IPO, which came out in 2022-23, IPO mobilisation increased by 58 per cent from last year.
Likely to select from 3 shortlisted; follows Sanjeev Kaushik's refusal to take the job if made to retire from IAS
The Securities and Exchange Board of India (Sebi) may allow non-resident Indians (NRIs) and Overseas Citizens of India (OCIs) greater exposure to domestic equities if their investments are sent through foreign portfolio investors (FPIs) registered at the GIFT City International Financial Services Centre (IFSC). The proposal will be taken during Sebi's board meeting on Saturday along with other key agenda items such as easing of voluntary delisting mechanism and introduction of a regulatory framework for real estate fractional ownership platforms, said people in the know. At present, the combined holdings of NRIs and OCIs in a global fund have to be less than 50 per cent, while that of a single NRI or OCI is capped at 25 per cent.
In three separate but similarly-worded orders, Sebi said the default by IL&FS occurred due to "lethargic indifference and needless procrastination and laxity" of the rating agencies.
Sebi also allowed foreign investors to own up to 15 per cent stake in domestic stock and commodity exchanges
These benefits would only be available to individuals and corporates, and professionals like auditors will not be able to use this route as they are duty-bound to report any wrongdoing.
The government is planning to introduce legislative changes to the Foreign Exchange Management Act (Fema) regulations, with a focus on easing the pathway for inflows from a foreign portfolio investor to transition seamlessly into foreign direct investments (FDI) once the FPI surpasses the 10 per cent ownership threshold in a company. This move stems from multiple requests by foreign investors seeking to streamline the reporting requirements that arise when their stakes in Indian firms cross the 10 per cent mark.
Central KYC not in sync with Sebi's KRA system; regulator writes to finance ministry
The revised date for phase I and phase II examination for the recruitment of officers in Grade A will be informed in due course.
The regulator has extended the deadline by 45 days till June 30 for submitting half-yearly financial results for NCDs, NCRPS and CPs, while it has given a time period of another 30 days till June 30, for filing annual earnings.
The Securities and Exchange Board of India (Sebi) has permitted 100 per cent contribution from non-resident Indians (NRIs) and overseas citizens of India (OCIs) in the corpus of foreign portfolio investors (FPIs) based out of Gujarat International Finance Tec-City (GIFT City), the country's international financial services centre (IFSC). However, the Indian diaspora is yet to fully embrace this new route. The regulator allowed this route to enhance the fund ecosystem at GIFT City and attract genuine investments from overseas Indians.
Momentum funds can be 10 to 15 per cent more volatile than the Nifty 50.
The finance ministry has put out an advertisement seeking applications from eligible candidates for the post and gave just two weeks against the usual practice of three months. Further, the tenure of the watchdog is again being extended to five years.
In his first two years, Tyagi, a Himachal Pradesh cadre IAS officer, has implemented challenging stock market reforms and taken action against high-profile corporate entities.
The NSE held 25 to 100 per cent stakes in these entities through its subsidiary NSE Investments as of September.
On a daily basis, AMCs are required to disclose the Total Expense Ratio of all mutual fund schemes except infrastructure debt fund schemes on their respective websites.
To make sure liquid schemes reflect the underlying portfolio risks, Sebi has said all debt papers with maturity of 30 days or more to be marked to market. Earlier, fund houses didn't have to do so for securities that had less than 60-day maturity.
Legal experts fear such shareholder activism could turn into a class-action suit against Infosys
The fate of the $10 billion merger between Zee Entertainment Enterprises and Culver Max Entertainment, formerly Sony Pictures Networks India, is hanging by a thread, with the two parties unable to finalise an agreement as the end of the one-month grace period looms. The two parties are yet to come to an agreement over Zee Entertainment Enterprises Ltd (ZEEL) MD and CEO Punit Goenka leading the merged entity after Sony expressed concerns after market regulator Sebi barred him from holding managerial posts in Zee and any of the entities in a fund-diversion case.
The Securities and Exchange Board of India's move directing asset management companies (AMCs) to invest more in their new fund offerings (NFOs) could force the industry to go slow on new product launches. At present, AMCs have to invest one per cent of the amount raised during a NFO or Rs 50 lakh, whichever is less.
Future Retail Ltd has said that SEBI's one-year ban on its chairman Kishore Biyani and some other promoters from the securities market will have "no impact" on the Rs 24,713 crore-deal with Reliance. Further, Kishore Biyani, some other promoters and Future Corporate Resources Pvt Ltd (FCRPL) plan to appeal against the order passed by Securities and Exchange Board of India (SEBI) on Wednesday. "The order will have no impact on the ongoing Scheme of Arrangement of the company. We understand that the relevant parties propose to challenge this order in exercise of their statutory right to appeal," Future Retail Ltd (FRL) said in a late-night regulatory filing on Wednesday.
'We are in a position to start due diligence and private data room access shortly.'
Specific sections of the Companies Act need to be amended to empower Sebi to regulate or take penal action against an unlisted entity and its promoters for violating the insider trading and other securities norms.
"Our humble contribution to India's growth story will continue. Jai Hind," Billionaire Gautam Adani said.
According to the new proposals, resident promoters or a foreign promoter from a FATF jurisdiction can set up a market infrastructure institution.
Interception of electronic communication should also be covered in the powers being sought, the report said.
Issuing guidelines for enhanced disclosures by CRAs, the watchdog has called for having a uniform Standard Operating Procedure in respect of tracking and timely recognition of default.
The life insurance industry does not have a good track record when it comes to passing on tax benefits to policyholders, points out Harsh Roongta.
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.
'Splitting must result in tangible benefits for the customer, otherwise it will only mean more work for them in maintaining the policy and for their nominees.'
Sebi penalised Shruti Vishal Vora - found guilty of leaking price sensitive information related to financial results of Wipro, Asian Paints and Mindtree, and Parthiv Dalal for similar action in case of Wipro earnings.
