Markets regulator Sebi on Wednesday approved various proposals, including reducing the time period for the listing of shares in a public issue, mandating additional disclosure requirements for foreign portfolio investors and introducing board nomination rights for unitholders of InvITs and REITs.
These were among the seven proposals approved by Sebi’s board during its meeting here.
The board has cleared reducing the time period for the listing of shares in public issues from the existing 6 days to 3 days from the date of issue closure (T Day).
“The revised timeline of T+3 days shall be made applicable in two phases i.e. voluntary for all public issues opening on or after September 01, 2023, and mandatory on or after December 01, 2023,” the regulator said in a release.
The watchdog will enhance disclosure requirements for Foreign Portfolio Investors (FPIs), including mandating additional granular-level disclosures regarding ownership, economic interest and control of objectively …
Posts in category Business Standard
Sebi to reduce listing time public issues; to mandate disclosures for FPIs (28-06-2023)
Markets scale fresh highs; Nifty hits 19,000-mark, Sensex tops 64,000 (28-06-2023)
Sensex tops 64,000 in intra-day trade as FPIs step up buying
ideaforge Technology IPO receives 50 times subscription on Day 3 of sale (28-06-2023)
Drone maker ideaforge Technology’s Initial Public Offer (IPO) received 50 times subscriptions on day three of the share sale on Wednesday.
The company’s issue period was revised, as Thursday, June 29, is a holiday on the occasion of Bakri Id. Now, the offer will conclude on June 30.
The Rs 567.24-crore initial share sale received bids for 23,24,32,420 shares against 46,48,870 shares on offer, as per data available with the NSE.
The portion for Retail Individual Investors (RIIs) garnered 64.41 times subscriptions, while the non-institutional investor’s quota got subscribed 63.94 times. The category for Qualified Institutional Buyers (QIBs) received 38.15 times the subscription.
The initial public offer has a fresh issue aggregating up to Rs 240 crore and an offer for the sale of up to 48,69,712 equity shares.
The price range for the offer is Rs 638-672 a share.
Proceeds from the fresh issuance to the tune of Rs 50 crore will be utilised for debt payment, Rs 135 crore towards fundi
3 of crisis management team settle NSE 2021 trading glitch case with Sebi (28-06-2023)
Three persons, who were part of the crisis management team at the National Stock Exchange (NSE), on Wednesday settled with markets regulator Sebi a case of trading glitch that occurred at the bourse in February 2021.
The three executives settled the case with Sebi on non-monetary settlement terms as the regulator ordered them to do community service for the cause of investor education and awareness for 14 days. Also, they have been directed to take up and pass appropriate training courses.
Those who settled the case were — Ravi Varanasi, who was Chief Business Development Officer at NSE, K S Somasundaram, who was Chief Enterprise Risk & Information Security Officer of NSE and Mayur Sindhwad, who was Chief Operating Officer of the bourse, at the time of the glitch.
Trading was halted at the NSE for nearly four hours on February 24, 2021, reportedly due to telecom links failure leading to unavailability of the online risk management system of NSE Clearing Ltd (NCL).
NCL, a …
Equity investors become richer by Rs 3.43 trn in 2 days of market rally (28-06-2023)
Equity investors became richer by Rs 3.43 lakh crore in two days of market rally that saw the BSE benchmark Sensex touching the record 64,000-mark in intra-day trade on Wednesday.
Extending the previous day’s rally, the 30-share Sensex surged 499.39 points or 0.79 per cent to settle at its life time closing high of 63,915.42 points on Wednesday. During the day, the index jumped 634.41 points or 1 per cent to hit its all-time intra-day peak of 64,050.44 points.
In two days, the market capitalisation of BSE-listed firms went up by Rs 3,43,718.15 crore to Rs 2,94,11,131.69 crore.
Earlier, on June 21, the market capitalisation of BSE-listed firms had hit an all-time high of Rs 2,94,36,594.50 crore.
“Domestic equities had a dream run with Nifty and Sensex scaling life time highs. Strong institutional flows, healthy macros, and robust earnings growth drove the domestic market toward new highs,” Siddhartha Khemka, Head – Retail Research at Motilal Oswal Financial Services Ltd, said.
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Crypto exchange KuCoin to make KYC compulsory for all users from July 15 (28-06-2023)
The users will also not be able to deposit more money for investment in their wallets but the withdrawals will remain unaffected
IdeaForge Tech IPO to close on June 30; issue subscribed 32x so far (28-06-2023)
According to IPO Watch, the shares are commanding grey market premium (GMP) of Rs 550, signaling a listing gain of 82 per cent over the upper end of the IPO price
Sensex hits 64,000, Nifty tops 19,000: These 4 factors drove market rally (28-06-2023)
Broader markets, too, displayed strength as Nifty Midcap 100, and Nifty Smallcap 100 indices surged up to 1.1 per cent during this period
Sheela Foam jumps 8% on report it may buy Kurlon Enterprise for Rs 3,250 cr (28-06-2023)
Buying out Kurlon Enterprise, which makes the Kurl-on brand of mattresses, will help Sheela Foam nearly double its market share, the report by Moneycontrol said
Tata Motors gains 3% on Sebi nod to Tata Tech IPO; CLSA raises target price (28-06-2023)
The stock of the Tata group automobile company was trading at its highest level since September 2016