Posts in category Business Standard
Sebi proposes body for administration, supervision of research analysts (22-08-2023)
Capital markets regulator Sebi on Tuesday proposed to recognise an entity designated as Research Analyst Administration and Supervisory Body (RAASB), which will be responsible for the administration and supervision of the research analysts.
In its consultation paper, Sebi said that the proposed body should not place any additional financial burden on the research analysts (RAs). Further, the application fee and registration fee as specified under the current RA Regulations has been proposed to be rationalised accordingly.
In addition, it has been suggested to amend the rules to provide that membership of RAASB should be one of the eligibility criteria for consideration of the grant of registration certificate as RA.
The Securities and Exchange Board of India (Sebi) has sought comments from the public on the proposals till September 12.
"Considering the evolving nature of business of RAs, it is proposed that, on similar lines as IAASB, Sebi may recognise a body, designated as Resear
Sebi bars Brightcom Group’s chairman SK Reddy and CFO Narayan Raju (22-08-2023)
Regulator finds several irregularities; says company submitted forged bank statements to mislead
Aeroflex Industries IPO subscribed 6.69 times on first day of offer (22-08-2023)
The Initial Public Offering (IPO) of stainless steel flexible hose manufacturer Aeroflex Industries was subscribed 6.69 times on the first day of subscription on Tuesday.
The Rs 351 crore-IPO received bids for 15,52,35,730 shares against 2,32,17,667 shares on offer, as per NSE data.
The category for non-institutional investors received 14.05 times subscription while the portion for Retail Individual Investors (RIIs) was subscribed 6.67 times and that of Qualified Institutional Buyers (QIBs) was subscribed 1.17 times.
The IPO has a fresh issue of up to Rs 162 crore and an offer for sale of up to 1.75 crore equity shares.
The price range for the offer is Rs 102-108 per share.
On Monday, the company said it collected close to Rs 104 crore from anchor investors.
Proceeds from the fresh issue will be utilised for repaying a debt, and funding working capital requirements, and a certain amount will be used for general corporate purposes and acquisitions for inorganic growth, as per the
Fintech firm Zaggle garners Rs 25 cr from ValueQuest in pre-IPO round (22-08-2023)
Fintech player Zaggle Prepaid Ocean Services Ltd on Tuesday said it has raised Rs 25 crore from ValueQuest Scale Fund in the pre-IPO (initial public offering) round.
This came after the firm raised Rs 73 crore from a clutch of investors through a private placement last week. With the latest fund infusion, the combined fund raising by the firm reached Rs 98 crore in two tranches.
In a public statement on Tuesday, Zaggle said that it issued 15,24,390 equity shares to ValueQuest at a price of Rs 164 apiece.
Zaggle filed its draft papers with capital markets regulator Sebi in December 2022 to raise funds through an IPO.
Going by the draft papers, the IPO comprises fresh issue of equity shares worth Rs 490 crore and an offer for sale (OFS) component of 1.05 crore stocks by promoters, investors and other shareholders.
Proceeds from the fresh issue would be utilised towards customer acquisition and retention, development of technology and products, payment of debt and for general corpora
SAT refuses to interfere, grant any immediate relief in Eros matter (22-08-2023)
Directs co to file a reply within three weeks in case involving alleged siphoning of funds
BSE postpones removal of Jio Financial Services from indices to August 29 (22-08-2023)
BSE's circular said that if JFSL continues to hit the lower circuit in the next two days, the removal date will be deferred by another three days
SBI Funds completes liquidation of assets in Franklin Templeton MF (22-08-2023)
SBI Funds Management Ltd on Tuesday said it has completed the liquidation of assets in the six shuttered debt schemes of Franklin Templeton Mutual Fund and distributed Rs 27,508 crore to the latter's unitholders.
Franklin Templeton in April 2020 announced shutting down of the six debt mutual fund schemes, citing redemption pressures and lack of liquidity in the bond market.
With this, SBI Funds Management has liquidated 217 securities and disbursed around Rs 27,508 crore which constitutes 109 per cent of the value of the securities as on date of winding up -- April 23, 2020, the company said in a statement.
It further said that the liquidation activity was done without creating any market dislocation in order to get the best liquidation value and safeguard the interest of unitholders of Franklin Templeton Mutual Fund (FTMF).
The company was directed by the Supreme Court in 2021 to undertake the exercise of disbursement and liquidation of assets of the six wound-up debt schemes of .
BHEL surges 10% on securing Rs 4,000-crore order from Adani Power’s arm (22-08-2023)
Analyst believes pickup in thermal power orders and companies focus on diversification in segments such as railways, defence, nuclear, hydro augurs well for company in long term.
Lemon Tree Hotels hits 52-week high on signing agreements for 2 properties (22-08-2023)
The company said that the two additions under two diverse models aligned with their asset-light policy
Jio Financial hits 5% lower circuit for second straight day post listing (22-08-2023)
Till 11:39 am; a combined 6.03 million shares changed hands, with pending sell orders for 106 million shares on the NSE and BSE