Capital markets regulator Sebi on Monday came out with guidelines for borrowing by Category I and Category II alternative investment funds (AIFs), along with the maximum permissible limit for extension of tenure by Large Value Fund for Accredited Investors (LVFs).
Under the rule, Category I and II AIFs are not allowed to borrow or use leverage for investments, except in limited cases for temporary needs.
These AIFs are allowed to borrow funds to address temporary funding needs or manage day-to-day operational expenses, with specific limitations.
Such borrowing is permitted for up to 30 days, can occur no more than four times in a calendar year, and must not exceed 10 per cent of the investable funds.
To facilitate ease of doing business and provide operational flexibility, Sebi has allowed Category I and Category II AIFs to borrow for the purpose of meeting temporary shortfall in amount called from investors for making investments in investee companies (‘drawdown amount’), accordin

Leading biofuel producer TruAlt Bioenergy Ltd has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO).
The IPO is a mix of fresh issuance of equity shares worth Rs 750 crore and an offer for sale (OFS) of up to 36 lakh equity shares by promoters, according to the draft red herring prospectus (DRHP.
The OFS consists of up to 18 lakh equity shares each by Dhraksayani Sangamesh Nirani and Sangamesh Rudrappa Nirani.
The company may consider raising Rs 150 crore under the pre-IPO placement round. If such placement is completed, the fresh issue size will be reduced.
Out of the proceeds from the fresh issuance, Rs 425 crore will be utilised for funding working capital requirements, Rs 172.68 crore for setting up multi-feed stock operations, besides, a portion will be used for general corporate purposes.
Based in Bengaluru, TruAlt Bioenergy focuses on ethanol production, with a daily production capacity of 1,400 …

Domestic equity benchmarks ended flat today, with Nifty50 settling above 24,570. Metals and energy stocks shined while autos and banks dragged. The market’s resilience is evident as it continues to reward the “buy on dips” approach.

The broader Topix index settled 1.40 percent lower at 2,641.14 ahead of the release of Japanese inflation data due this week.