Capital markets regulator Sebi on Wednesday imposed penalties on seven entities including Reliance Infrastructure, Reliance Power and Incredible Realcon for non-submission of no default Statement (NDS) to credit rating agencies.
The regulator levied a fine of Rs 1 crore each on Reliance Infrastructure, Reliance Power and Incredible Realcon, Rs 20 lakh on Paranjape Schemes (Construction) Ltd, Rs 14 lakh on PVP Ventures, Rs 5 lakh on Hindustan Cleanenergy and Rs 1 lakh on Ginni Filaments.
These firms have been directed to pay the fine within 45 days, the Securities and Exchange Board of India (Sebi) said in its 90-page order.
The matter pertains to the requirement of listed entities who have issued debt securities or other entities who have chosen to list their debt securities, to file No Default Statement (NDS) to the Credit Rating Agencies (CRAs).
Sebi’s rule mandates the companies or issuers to submit the NDS information to CRAs on a monthly basis.
“The non-filing of NDS may have
Posts in category Business Standard
Sebi penalises RInfra, others for non-submission of no default statement (19-06-2024)
DEE Development Engineers IPO subscribed 2.51 times on Day 1 of offer (19-06-2024)
The initial public offer of piping solutions provider DEE Development Engineers got fully subscribed on the first day of bidding on Wednesday and ended with 2.51 times subscription.
The Rs 418 crore initial share sale received bids for 3,74,51,044 shares against 1,49,44,944 shares on offer, as per NSE data.
The portion for non-institutional investors received 5.29 times subscription while the category for Retail Individual Investors (RIIs) got subscribed 2.67 times. The category for Qualified Institutional Buyers (QIBs) received 2 per cent subscription.
The Initial Public Offer (IPO) has a fresh issue of up to Rs 325 crore and an offer for sale of up to 45,82,000 equity shares.
The price range for the offer is fixed at Rs 193-203 per share.
Dee Development Engineers Ltd on Tuesday said it has mobilised a little over Rs 125 crore from anchor investors.
Of the Rs 325 crore fresh issue proceeds, Rs 175 crore will be used for payment of debt, Rs 75 crore for funding working capital .
India’s biggest bond holders sell into JPMorgan-induced demand: Report (19-06-2024)
Most foreign portfolio investors use foreign banks based in India as custodians for their investment operations
CoinEx’s June Brand Day is coming, with 50 per cent off on TON (19-06-2024)
New Delhi [India], June 20: In the first quarter of 2024, the Memecoin frenzy peaked, becoming a major highlight in the TON DeFi field. As an important part of the TON ecosystem, Memecoin is innovative in technology and supported by an active community that has strongly contributed to its development. The significant price increases of TON and Notcoin have recently driven the Memecoin in the TON ecosystem to new heights, attracting considerable market attention and sparking numerous discussions and expectations. The TON ecosystem has thus gained unprecedented popularity, demonstrating market recognition of Memecoin and further validating the immense potential of the TON ecosystem’s future development.
Officer’s Choice maker Allied Blenders to float Rs 1,500 cr IPO on Jun 25 (19-06-2024)
Allied Blenders and Distillers Ltd, the maker of Officer’s Choice Whisky, is set to launch its Rs 1,500 crore initial public offering (IPO) on June 25.
The initial share-sale will conclude on June 27 and the bidding for anchor investors will open for a day on June 24, according to the red herring prospectus (RHP).
The initial share-sale comprises fresh issuance of equity shares worth Rs 1,000 crore and an Offer-for-Sale (OFS) of shares to the tune of Rs 500 crore by promoters.
As a part of the OFS, Bina Kishore Chhabria, Resham Chhabria Jeetendra Hemdev and Neesha Kishore Chhabria will sell shares.
Proceeds from the fresh issue worth Rs 720 crore will be used for the payment of debt, besides, a portion will be used for general corporate purposes.
The total debt on the company’s books was around Rs 808 crore as of December 2023.
Allied Blenders and Distillers, which filed preliminary IPO papers with Sebi in January, obtained its nod in May to launch the public issue.
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Balaji Agro Oils standalone net profit rises 980.00% in the March 2024 quarter (19-06-2024)
Sales decline 2.21% to Rs 29.58 crore
Welga Foods reports standalone net profit of Rs 1.75 crore in the March 2024 quarter (19-06-2024)
Sales rise 12.60% to Rs 8.49 crore