SEBI | Pixr8 News

17Dec By PriyankaNo Comments

Market

Travel Firm EaseMyTrip Files for IPO

Online travel company EaseMyTrip has filed draft papers with capital markets regulator Sebi to float more than $71 million (Rs 510 crore) initial public offering. Through the IPO, company’s founders Nishant Pitti and Rikant Pitti will each sell shares to the tune of $35 million (Rs 255 crore) through offer-for-sale mechanism, according to draft papers filed with the Securities and Exchange Board of India (Sebi). The city-based company said the object of the public issue is to achieve the benefits of listing the equity shares on stock exchanges. “Our company expects that listing of the equity shares will enhance our visibility and brand and provide liquidity to its existing shareholders,” it added. The company’s issue is being managed by Axis Capital and JM Financial. Founded...

9Dec By Press Trust of IndiaNo Comments

INDIA

Indian Market Regulator Sebi Scans Matrimonial Website to Catch Manipulators

To catch manipulators, Indian market regulator Sebi has started looking at matrimonial profiles of suspected persons to establish the link with family members in front running cases. The markets watchdog has been scanning Facebook accounts of suspected persons in cases related to insider trading cases. In the case of front running of several funds of Fidelity Group entities, Sebi has checked the profile of a trader Vaibhav Dhadda (who was using the alias Avi) at the matrimonial website www.jainshubhbandhan.com in order to establish his link with family members. The matrimonial website has mentioned Vaibhav as the son of Alka Dhadda, Sebi said in an interim order dated December 5. In addition, his passport details also showed Alka Dhadda as his mother. After gathering evidenc...

Angel Broking paid $450,000 to settle case with Sebi

22Jul By NitishNo Comments

Market

Angel Broking paid $450,000 to settle case with Sebi

Stock broker Angel Broking has settled a case of alleged misutilisation and non-settlement of clients' fund with regulator Sebi by paying nearly $450k towards settlement charges. Sebi conducted an inspection of the books of accounts of Angel Broking during September 19-23 and October 19-21 in the year 2016. During the inspection, Sebi observed that the stock broker "met the pay-in obligation of clients having debit balance from the funds of clients having credit balance", Sebi said. Moreover, it was not settling running accounts of the inactive clients periodically, the regulator added. By doing so, Angel Broking allegedly violated code of conduct for stock brokers. Accordingly, adjudicating proceedings were initiated against Angel Broking and a show cause notice was sent on Ma...

Mrs. Bector’s Food & Sansera Engineering Get SEBI Nod for IPO

13Nov By Gauri SinghNo Comments

Market

Mrs. Bector’s Food & Sansera Engineering Get SEBI Nod for IPO

Two companies of two different sectors have received regulatory nods to float initial public offerings (IPOs). Those two companies are biscuit maker Mrs. Bector's Food Specialties and automotive and aerospace component manufacturer Sansera Engineering. With this approval, SEBI has agreed upon a total of 65 IPO proposals in 2018. However, last year, it had cleared 46 proposals. Mrs. Bector's Food is a Ludhiana based food company and it filed its draft proposal on 13 August. The company counts firms like CX Partners and Gateway Partners as its backers. The IPO demanded a sale of shares worth Rs 800 crore by promoter Ajay Bector and CX Partners and Gateway Partners. It will result in 26-27% stake dilution, valuing the biscuit maker at Rs 3,000 crore ($428 million). CX Partners and...

Payment Solution AGS Transact Gets SEBI Nod for IPO

30Oct By Gauri SinghNo Comments

Market

Payment Solution AGS Transact Gets SEBI Nod for IPO

AGS Transact Technologies, a payment solutions provider has received SEBI’s official nod to launch an initial public offering (IPO). The company was recently backed by private equity firms TPG Growth and Actis until a few months ago. The Securities and Exchange Board of India (SEBI) issued final observations to AGS Transact’s IPO proposal on 26 October. AGS had filed its draft red herring prospectus (DRHP) with SEBI in mid-August. With this nod, SEBI, as of now, has approved 62 IPO proposals in2018. In 2017, the regulatory authority cleared 46 IPO proposals. AGS’ Rs 1,000-crore IPO comprises fresh shares worth Rs 400 crore apart from equity of promoter Ravi Goyal and other individual shareholders worth Rs 600 crore. Also, AGS Transact may raise Rs 150 crore in pre-IPO placement as...

More than Half of the Indian Companies Listed on IPO in 2018 Trading Below Issue Price

21Sep By Gauri SinghNo Comments

Market

More than Half of the Indian Companies Listed on IPO in 2018 Trading Below Issue Price

As many as 21 companies went public this year and shares of more than half of all these companies are trading below their issue price. The main reason behind this has been the market volatility, aggressive pricing and sometimes stock and sector-specific issues. Out of 21 initial public offers (IPOs) in 2018, shares of 11 companies now trade below their issue price. “As the market went up, so did the expectation and pricing of the IPOs. Pricing issue was in sync with market sentiment,” said Arun Kejriwal, director of Kejriwal Research and Investment Services Pvt. Ltd. The companies that can be listed as the top losers in the pack are Apollo Micro Systems Ltd and ICICI Securities Ltd. These companies were down by 50% and 39% respectively from their issue price. Apollo Micro Systems ...

Auto Component Maker Craftsman Automation Gets Sebi’s Nod for IPO

28Aug By Gauri SinghNo Comments

Market

Auto Component Maker Craftsman Automation Gets Sebi’s Nod for IPO

Auto component manufacturer Craftsman Automation Pvt Ltd has successfully received capital markets regulator Sebi's approval for the launch of its initial public offerings (IPO). The firm had filed its draft prospectus with SEBI in June. The two PE backers of the company are Standard Chartered Private Equity and International Finance Corporation (IFC), World Bank’s private-sector investment arm. The promoters offloading the stakes include Srinivasan Ravi (2.10 lakh shares), Marina III (Singapore) (over 15.59 lakh), IFC (14.14 lakh ) and K Gomatheswaran (up to 12 lakh). The funds raised by the company through this public offering are expected to be utilized towards the repayment/pre-payment of certain borrowings and for general corporate purposes fully or partly. Craftsman Autom...

Restaurant Chain Barbeque Nation Raises Pre-IPO Funds From Jhunjhunwala

25Jul By AnkitaNo Comments

Market

Restaurant Chain Barbeque Nation Raises Pre-IPO Funds From Jhunjhunwala

One of the top investor Rakesh Jhunjhunwala's co-founded firm, Alchemy Capital Management, has recently invested Rs 80-90 crore in CX Partners-backed casual dining restaurant chain Barbeque Nation Hospitality Ltd before the IPO placement. “Alchemy Capital has picked up a minority stake in Barbeque Nation through Alchemy India Fund for a consideration of around ₹80-90 crore. The pre-IPO placement valued the company at ₹2,300-2,400 crore”. According to the reports, The capital will be used to build new restaurants and also for repayment of debt. In 2013, CX Partners had invested in the restaurant chain, Alchemy Capital was set up in 1999. The first Barbeque-Nation restaurant was launched in 2005. The company operated 81 restaurants across 42 cities in India and one in Dubai till 30 J...

Who is The Real Owner of NDTV? Pranab Roy or Mukesh Ambani!

18Jul By Gauri SinghNo Comments

Story

Who is The Real Owner of NDTV? Pranab Roy or Mukesh Ambani!

Disclaimer - The information in the article about the deal of NDTV and Reliance has been derived from various sources and we have tried our best to collect all the facts and come up with a clearer view of the case. The readers can go through the story and analyze the whole deal according to their point of view. For a long time, a question might have been troubling a lot of people in the business space: Who really owns NDTV, Roys or Ambani? NDTV founders Prannoy Roy, his wife Radhika Roy and their private holding company RRPR Holding raised a loan amounting to Rs 350 crore, without any interest, from Vishvapradhan Commercial (VCPL), a subsidiary of Mukesh Ambani's Reliance Industries Ltd (RIL) on 21st July 2009. It is said that in the form of a loan, this was basically an ...

IndiaMart Successfully Plans An IPO: Offers Millions of Shares

4Jul By Gauri SinghNo Comments

Market

IndiaMart Successfully Plans An IPO: Offers Millions of Shares

Indian e-commerce company ‘IndiaMart’ has confirmed that it is going to issue an initial public offering (IPO) very soon. The company had filed its draft papers recently to SEBI (Securities and Exchange Board of India). The online company will start the process of IPO in the next financial year. It is a Noida-based company and will offer up to 4.28 million shares through its offer for sale. The promoters and investors will also sell a proportion of their stakes in the venture. “We will go for IPO soon. Basically, we are not in need to raise external money but we want to give an exit route to existing investors. Most of the equity sale will happen in secondary market,” said Dinesh Agarwal, Indiamart founder and CEO. According to the reports, the company’s investors will sell 2.07 Mn sh...

28Jun By Press Trust of IndiaNo Comments

Market

HDFC Mutual Fund Gets Sebi Nod For IPO

HDFC Asset Management Company, the country's largest mutual fund firm, has received Sebi's go-ahead to float an initial public offer. The company had filed draft papers with Securities and Exchange Board of India (Sebi) in March and received its "observations" on June 22, as per the latest update with the markets watchdog. Sebi's observations are necessary for any company to launch public issues like a rights issue, initial public offer (IPO) and follow-on public offer (FPO). HDFC AMC operates as a joint venture between Housing Development Finance Corporation (HDFC) and Standard Life Investments. Going by the draft papers, the proposed IPO offers up to 2.54 crore equity shares of the fund house through an offer for sale of 85.92 lakh shares by HDFC and up to 1.68 crore shares b...

Here’s the Criteria to List Your Startup on BSE’s New Platform

26Jun By Lavina TolaniNo Comments

Market

Here’s the Criteria to List Your Startup on BSE’s New Platform

In an attempt to push startup environment facilitating the listing of startups in different sectors IT, ITES, biotech, 3D printing, space tech, and e-commerce, BSE India is launching a platform for new-age companies from July 9. The maiden platform will help in the listing of startups from other sectors too including defence, drones, nanotechnologies, virtual reality, big data, e-gaming, robotics, genetic engineering and more as informed by BSE officials. There is a certain criterion that startups and SME's in the above-mentioned sectors will have to fulfil for their listing in the world's fastest exchange as claimed by BSE. Some of the mandatory conditions are: The company should have a pre-issue paid up equity share capital of a minimum of Rs. 1 crore. ...