SEBI | Pixr8 News

SEBI To Bring Easy IPO Norms for Upcoming Issuers

20Jun By Lavina TolaniNo Comments

Market

SEBI To Bring Easy IPO Norms for Upcoming Issuers

Market Regulator, SEBI is gearing up to modify Initial Public Offering (IPO) norms in India making them less arduous for legitimate sellers while putting down on the possible misuse. The revamp includes the inclusion of a broader set of institutional investors such as alternative investment funds (AIF's) for counting promoter's contribution in startups, reducing disclosure price for two days before the issue opens and reducing requirement period for disclosure to three years than five. The panel board is scheduled to meet on June 21 to discuss proposed modifications in ICDR. Prithvi Haldea, Head of the ICDR Committee conducted by SEBI last year said, There are cases of good companies where the promoter capital is not adequate for lock-in in an IPO. Sometimes, alternative investment ...

SEBI sets up Expert Panel to Facilitate Attractive Startups Listing

13Jun By Lavina TolaniNo Comments

INDIA

SEBI sets up Expert Panel to Facilitate Attractive Startups Listing

Market Regulator, The Securities and Exchange Board of India (SEBI) has constituted an expert committee to look into the existing Institutional Trading Platform framework (ITP) to suggest measures that could facilitate the listing of startups. At the same time, SEBI is also examining the possibility of allowing unlisted Indian companies to directly list equity overseas while also allowing foreign companies to list directly on the Indian bourses. In its official statement, SEBI was quoted saying, Considering the evolution and internationalisation of the capital markets, it would be worthwhile to consider facilitating companies incorporated in India to directly list their equity share capital abroad and vice versa. The nine-member panel board will include representatives from the I...

Indostar Capital Finance IPO subscribed two-thirds on Day 2

12May By Lavina TolaniNo Comments

Market

Indostar Capital Finance IPO subscribed two-thirds on Day 2

The Initial Public Offering of a Non-banking financial company backed by Everstone Capital-IndoStar Capital Finance Ltd. was subscribed 69% on the second day of bidding on Thursday. According to stock exchange data, the public issue of 22.57 million shares which excludes the allotment of anchor investors received bids for nearly 46.46 million shares. The category Qualified institutional buyers (QIBs) which was set aside also witnessed a subscription for over 1.80 times non-institutional investors 3% and retail investors 34%. Much ahead of the offering, this Mumbai based firm has successfully raised Rs 553.2 crore from prominent anchor investors including East Bridge Capital and Fidelity among others. The IPO will witness partial exit of promoters as well as co-investors. The of...

BlackRock to Sell Stakes to DSP Group and Exit Indian JV

8May By Lavina TolaniNo Comments

BUSINESS

BlackRock to Sell Stakes to DSP Group and Exit Indian JV

The world's largest asset manager BlackRock Inc. is all set to sell its 40% stake in DSP BlackRock Investment Managers Pvt. Ltd. to joint venture partner DSP Group, adding to the club of foreign asset managers that have left from Indian fund industry. As far as sources are concerned, DSP Blackout Investment Manager is currently valued at Rs. 5000 crores. A person familiar with the matter on the promise of anonymity said, As of now, BlackRock is exiting the JV. BlackRock has been in talks with DSP for about a year and initially, they were interested to buy DSP’s 60% stake. DSP rather chose the option of retaining its footprint in India. The world's largest asset manager in-houses around $6.32 trillion in assets worldwide. It is a 40:60 joint venture between BlackRock and DSP Group whic...

SEBI Fines Suzlon Rs 1.1 Crore For Violating Trading Norms

21Apr By Lavina TolaniNo Comments

INDIA

SEBI Fines Suzlon Rs 1.1 Crore For Violating Trading Norms

Market Regulator, Securities, and Exchange Board Of India(SEBI) has imposed a fine of Rs 1 crore on turbine maker Suzlon Energy on account of violating trading norms on Friday. The turbine maker has repeatedly failed to disclose private sensitive information required by SEBI's listing guidelines. Sahil Malik, an Adjudicating officer at SEBI said, I find that the investigation did not bring out the disproportionate gain or unfair advantages to the noticee and loss caused to investors as a result of non-disclosure of truncation of order. They have failed to disclose 'more than once', hence it is repetitive in nature. The noticee in the case includes Suzlon energy and its promoters Girish R. Tanti, Hemal A. Kanuga and the MD and chairman Tulsi R. Tanti. Kanuga, who is currently the se...

Indian VC Industry Urged to Submit Papers On Issues Around Startup Ecosystem

9Apr By Lavina TolaniNo Comments

News

Indian VC Industry Urged to Submit Papers On Issues Around Startup Ecosystem

India's enterprise capital business has been urged to submit a white paper with policy recommendations to regulators that could help in addressing issues raised by stakeholders within the startup landscape. Indian Private Equity and Venture Capital Association (IVCA) is a nodal body designated for Risk capital sector in India. The development has come right after a roundtable organised by Startup India, an initiative organised by Ministry of Commerce and chaired by Suresh Prabhu that witnessed participation of representatives from Department of Industrial Policy and Promotion (DIPP), market controller Securities and Exchange Board of India (SEBI) , Small Industries Development Bank of India(SIDBI) and Department of Revenue and Economic Affairs. SIDBI Chairman, Mohammed Mustafa stated...

26Mar By Sheldan RungasamyNo Comments

INDIA

Indian Market Regulator Sebi will revise rules for Startup Angel Funding

Market Regulator, Securities and Exchange Board of India (Sebi) is planning to increase the maximum investment for angel funds to INR 10 crore while it was previously limited to INR 5 crore. India is going through a rapid change phase, especially concerning startups and funding. Angels investments are growing ever higher every passing week and the new regulation of the market will thereby provide additional opportunities to angel funds, according to regulatory officials. On the other hand, the minimum investment by an angel investor will remain INR 25 lakh. The regulatory board would also like divide by two the minimum corpus size required for an angel fund to register with it as it currently stands at Rs5 crore. Another measure the Sebi is looking forward to update concerns the maxi...

SEBI Directs Tata Motors to Investigate on “Whatsapp Leak of Financial Information”

7Mar By Sheldan RungasamyNo Comments

INDIA

SEBI Directs Tata Motors to Investigate on “Whatsapp Leak of Financial Information”

Securities and Exchange Board of India (SEBI) announced on Tuesday that it expects Tata Motors Ltd to investigate on the leak of financial results for the quarter end (October-December) 2015 on Whatsapp ahead of its official release. Tata Motors is expected to complete the probe within three months and submit a report to SEBI within seven days, the board said. This decision comes after SEBI’s investigation against the automaker company revealed that the figures circulating on Whatsapp prior to the formal release of financial results were matching the actual numbers. In reaction to the announcement by SEBI, a spokesperson from Tata Motors said, “Tata Motors would like to state that it is fully committed to ensuring confidentiality of such price sensitive information. This lapse pertai...

Bandhan Bank 2500 Crore IPO, Shares will Launch in Mid March

7Mar By NitishNo Comments

Market

Bandhan Bank 2500 Crore IPO, Shares will Launch in Mid March

SEBI has granted approval to Kolkata based bank Bandhan Bank to raise an estimated Rs 2,500 crore through an initial public offering. The company's shares will launch in Mid March, the initial draft was filed with SEBI on January 1 and move into “observations” on February 28. As per the SEBI’s “observations & guidelines", the draft papers of Bandhan Bank IPO will issue up to 9,76,63,910 equity shares and an offer for sale of up to 1,40,50,780 shares by International Finance Corporation (IFC) and up to 75,65,804 shares by IFC FIG Investment Company. Kotak Mahindra, Axis Capital Ltd, Goldman Sachs India etc are the institutions that will handle Bandhan bank's regulatory work during the issue. The former microfinance lender, which launched itself as a bank on 23 December 2014, has ...

6Mar By NitishNo Comments

Market

Sea Food Market Shares: The Latest Profitable And Lucrative Sphere To Invest In

The recent news of the drafting of the massive IPO of 900 million, at the SEBI by the leading seafood exporter Devi Sea Foods has stirred the market. The listing of equity shares will help to improve its brand image and provide liquidity to its existing shareholders. The company, which had its advent in 1992, will have the leading companies Axis Capital, ICICI Securities, and the Kotak Mahindra Bank will look after its public offerings. The company’s promoters are P Brahmanandam, P Suryavathi, P Rama Devi and N Naveena as per the information by the SEBI. Well, this is not the first and obviously the last time the sea business has to show its potential to expand in the market business to expand on. One of the leading exporters of aqua foods, Apex Frozen Foods, which was incorporated in 1...

WhatsApp Earnings Leak: Sebi, Bourses Checking Listed Company Trade Details

21Nov By Press Trust of IndiaNo Comments

News

WhatsApp Earnings Leak: Sebi, Bourses Checking Listed Company Trade Details

[dropcap]S[/dropcap]ebi and exchanges have started examining trade details of over two dozen stocks as part of a probe into alleged leak of key financial details of these companies through WhatsApp while the regulator is also considering seeking call data records of the persons involved. The companies include several listed blue-chip firms, officials said on the condition of anonymity. The exchanges are analyzing the trade data of the last 12 months of such companies in order to detect any possible breach of norms while Sebi is taking the help of data warehouse and its intelligence systems, they added. Under Sebi rules, all the financial details of listed companies should be disseminated only through stock exchanges as they are considered price-sensitive. Besides, Sebi is consider...

Online Match Making Platform Matrimony.com Files For Rs 350 Crore IPO

8May By AnkitaNo Comments

BUSINESS

Online Match Making Platform Matrimony.com Files For Rs 350 Crore IPO

Matrimony.Com, which runs online match making business under BharatMatrimony brand, today filed draft papers with markets regulator Sebi to raise an estimated Rs 350 crore through an IPO. The initial public offer (IPO) consists of a fresh issue aggregating up to Rs 130 crore and an offer for sale of up to 3,767,254 equity shares. Proceeds from the issue will be utilised for advertising and business promotion activities, purchase of land for construction of office premises in Chennai, repayment of overdraft facilities and general corporate purposes. According to sources, the company is expected to garner Rs 350 crore through the public offer. Axis Capital and ICICI Securities are the book running lead managers to the issue. Matrimony business currently comprises two segments ...