Posts in category Business Standard
Recruitment firm CIEL HR Services to file DRHP by end of Feb 2024 (27-11-2023)
Recruitment and staffing services firm CIEL HR would be filing its draft red-herring prospectus by the end of February 2024.
The Chennai-headquartered company expects to raise Rs 500 crore through its Initial Public Offering by June-July 2024, CIEL Group Executive Chairperson K Pandiarajan said on Monday.
Pandiarajan and senior company officials were here to make a slew of announcements by CIEL Group, which include launch of CIEL Career Accelerator Programme, Building Talent Pool of Chief Human Resource Officers and launch of a Gig-working platform.
The occasion also witnessed the acquisition of an IT Staffing Company RG Staffing Company by CIEL HR through share-swap'ratio, he said.
Very important press meet for usRG Staffing is a leading IT Staffing company headquartered in Chennai. It reported revenues of Rs 16 crore. I have known this company from its birth. Its promoters are Badri Seshadri and Ramachandran.. Pandiarajan told reporters.
We believe that this integration will ...
DSP AMC initiates ops in GIFT City; Union AMC launches Children’s Fund (27-11-2023)
The new fund offering (NFO) will close for subscription on December 12, 2023 and will reopen for sale and repurchase within 5 business days from allotment
Sebi issues Rs 26 cr demand notice to Panchariya in GDR manipulation case (27-11-2023)
Markets regulator Sebi has issued a demand notice to Arun Panchariya, asking him to pay about Rs 26.25 crore in a case on manipulation of global depository receipts (GDRs) issuance by Hiran Orgochem Ltd.
In its notice issued on November 23, the regulator has also warned Panchariya of arrest and attachment of assets as well as his bank accounts if he fails to make the payment within 15 days.
The demand notice came after Panchariya failed to pay the fine imposed on him by the Securities and Exchange Board of India (Sebi) in July.
In its notice, Sebi directed Panchariya to pay Rs 26.25 crore, including interest and recovery costs, within 15 days.
In the event of non-payment of dues, the market watchdog will recover the amount by attaching and selling the moveable and immovable property of Panchariya.
Besides, he will also face attachment of his bank accounts and arrest.
In July, Sebi imposed a penalty of Rs 25 crore on Panchariya and Rs 20 lakh on Mukesh Chauradiya for manipulation
Jefferies initiates coverage on BSE with a ‘buy’ call, 24% upside (27-11-2023)
Shares of the BSE on Friday closed at Rs 2,180, after having jumped 4 times in the past six months
Fractional ownership of property as investment tool to get boost: Experts (27-11-2023)
Market regulator Sebi's decision to allow the setting up of small and medium REITs will help regulate and propel the growth of new-age investment avenue called fractional ownership of rent yielding real estate assets, according to industry players.
Real estate technology platforms facilitating fractional ownership of rent-yielding properties welcomed the Sebi decision to regulate fractional ownership real estate market, which is still at a nascent stage in India.
Proptech platforms such as YOURS, ALYF, hBits, and WiseX are helping investors in having fractional ownership of primarily office and luxury holiday homes assets.
Real estate consultants like Square Yards and 360 Realtors have also entered into this space.
On Saturday, the Sebi board approved amendments to REITs (Real Estate Investment Trusts) Regulations, 2014 in order to create a regulatory framework for the facilitation of Small and Medium REITs (SM REITs), with an asset value of at least Rs 50 crore vis-a-vis minimum .
Oil prices slip, Brent falls toward $80/barrel ahead of Opec+ meeting (27-11-2023)
Brent crude futures fell 42 cents, or 0.5%, to $80.16 a barrel by 0901 GMT, while U.S. West Texas Intermediate crude futures were at $75.05 a barrel, down 49 cents, or 0.7%
Stock market holiday: BSE, NSE closed today due to Guru Nanak Jayanti (27-11-2023)
Stock market holiday today: Including November 27, the Indian stock market has remained closed for 13 weekdays so far in 2023
Gold price remains flat at Rs 62,290, silver unchanged at Rs 77,200 (27-11-2023)
The price of 22-carat gold also remained flat, with the yellow metal selling at Rs 57,100
Sebi will look into the high valuation of IPOs, says Madhabi Puri Buch (26-11-2023)
Amid concerns in some quarters over the exorbitant valuation of certain initial public offerings, Sebi Chairperson Madhabi Puri Buch has said the regulator would certainly look into the matter if disclosures on the valuation are meaningless.
The comments have come amid a slew of share sales hitting the capital market recently. Last week, five companies, including Tata Technologies, came out with their IPOs that garnered a record Rs 2.6 lakh crore in application amount.
To a query about high premiums for some shares in IPOs, Buch said, "Of course, we are fully with you on this as the rationale given for high premia are nothing but some meaningless English words".
"We are certainly going to look into it and address the issue," she said.
When asked about concerns in some quarters that some IPOs are priced exorbitantly, the Sebi chief said, "If disclosures on valuation are meaningless then we will certainly look into it."
It can be noted that to boost investors' interest in little-kno
FPIs reverse selling trend ; invest Rs 378 crore in equities in Nov (26-11-2023)
Foreign Portfolio Investors (FPIs) have pared their bearish stance on Indian equities during November as they made a net investment of Rs 378 crore on the sharp decline in US treasury bond yields.
This came after FPIs dumped Indian equities worth Rs 24,548 crore in October and Rs 14,767 crore in September, data with the depositories showed.
Before the outflow, FPIs were incessantly buying Indian equities in the last six months from March to August and brought in Rs 1.74 lakh crore during the period.
Overall, the cumulative trend for 2023 remains healthy, with FPIs pouring in Rs 96,340 crore so far this calendar year.
"On the way ahead, we think that improving risk appetite in the EM (emerging markets) and falling risk-free yields in the US will draw FPI flows towards India," Hitesh Jain, Strategist, Institutional Equities Research at YES Securities India, said.
According to the data, FPIs made a net investment of Rs 378.2 crore in Indian equities this month (till November ...