With an aim to strengthen governance norms, markets regulator Sebi on Tuesday proposed special rights to unitholders of REITs and InvITs by providing the right to nominate representative on the boards.
Also, the regulator has suggested the concept of self-sponsored real estate investment trust (REIT) or infrastructure investment trust ( InvIT), according to a consultation paper.
In addition, Sebi has proposed that principles of stewardship code should be applicable to members, nominated by the unitholders, on the board of directors of investment manager of REIT and InvIT.
The proposed move would empower unitholders of REITs and InvITs to monitor their investment in REIT/InvIT and assist in decision making.
The Securities and Exchange Board of India (Sebi) has sought public comments on the proposals till May 29.
REITs and InvITs were introduced in India to provide investors with an opportunity to gain exposure to real estate and infrastructure projects respectively, with …
Posts in category Business Standard
Sebi offers rights to unitholders of REITs, InvITs for corporate governance (16-05-2023)
Colocation case: NSE receives Rs 300 crore from market regulator Sebi (16-05-2023)
Exchange files fresh consent application to settle Feb’21 outage case
SGX Nifty will be renamed as GIFT Nifty from July 3, confirms NSE (16-05-2023)
On April 17, SGX had issued a circular on migrating all Nifty positions to NSE IFSC
LIC presents a sorry scorecard 1 year after listing; Mcap ranking slips (16-05-2023)
Underperforms Sensex by 54%; Mcap ranking slips from 5 to 13
Warren Buffett buys another $127 mn worth of Occidental Petroleum stock (16-05-2023)
Investor Warren Buffett’s company bought another $127 million worth of Occidental Petroleum stock over the past week to give Berkshire Hathaway 213.9 million shares of the oil producer.
Berkshire’s latest filing with the Securities and Exchange Commission late Monday showed that it had bought another 2.2 million Occidental shares.
Buffett’s Omaha, Nebraska-based conglomerate controls 23.8% of Occidental’s stock and holds warrants to buy another 83.9 million shares for $59.62 apiece, but the billionaire recently told shareholders that he has no plans to buy the entire company.
Many people like to copy Buffett’s moves because of his remarkable track record. Buffett doesn’t routinely comment on Berkshire’s stock purchases.
Buffett has been regularly buying Houston-based Occidental shares since early last year whenever the stock drops below $60. Berkshire’s latest purchases were made at prices between $56.34 and $58.52.
Occidental’s shares were down slightly Tuesday morning at $58.23.
Market regulator Sebi plans to expand QIB base to boost bond market (16-05-2023)
Looks to include SFBs and multi-state cooperatives, among others
Sebi slaps Rs 25 lakh penalty on 5 entities for non-genuine trades (16-05-2023)
Capital markets regulator Sebi on Tuesday slapped penalties totalling Rs 25 lakh on five entities for indulging in non-genuine trades in the illiquid stock options segment on BSE.
The regulator imposed a fine of Rs 5 lakh each on Chitrabai Vasantrao Nikam, Damayanti Jhunjhunwala, Nemichand Kasturchand Jain, Naresh Kumar Agarwal and Chandra Lakshmi Safety Glass Ltd (CLSG).
Sebi had observed large scale reversal trades in illiquid stock options segment on BSE, leading to artificial volumes on the exchange. The regulator conducted an investigation into the trading activities of certain entities engaged in the segment from April 2014 to September 2015.
The five entities that have been fined on Tuesday were among those who indulged in the execution of reversal trades.
Reversal trades are alleged to be non-genuine in nature as they are executed in the normal course of trading, which leads to a false or misleading appearance of trading in terms of generating artificial volumes, the regula
SGX Nifty will be known as GIFT Nifty from July 3: National Stock Exchange (16-05-2023)
The National Stock Exchange (NSE) on Tuesday said that SGX Nifty will be known as GIFT Nifty from July 3 as all orders of Singapore Exchange will be completely transferred to NSE IFSC bourse for matching.
The exchange said that regulatory approvals have already been obtained from the Monetary Authority of Singapore (MAS) and the International Financial Services Centres Authority (IFSCA).
“From July 3 onwards, all SGX orders will be 100 per cent transferred to GIFT City, NSE IFSC exchange for matching…SGX Nifty will be called GIFT Nifty from July 3,” an NSE spokesperson said.
NSE IFSC, a wholly-owned subsidiary of NSE, is an exchange at International Financial Service Center (IFSC) in GIFT City, Gujarat.
Singapore Exchange (SGX), last month, announced that NSE IFSC-SGX Connect at International Financial Service Center in GIFT City will become operational on July 3 after the transition of SGX Nifty derivatives to NSE IFSC.
The move will enable investors to trade in …
Jupiter Wagons raises Rs 125 cr via qualified institutional placement route (16-05-2023)
Jupiter Wagons Ltd (JWL) has raised Rs 125 crore through qualified institutional placement (QIP) route.
The funds will be utilized to accelerate its wagon manufacturing capacity, JWL said in a statement on Tuesday.
“JWL…has successfully concluded the fundraising exercise through QIP for Rs 125 crore. The QIP got an overwhelming response from investors like Tata Mutual Fund, Ananta Capital, ITI Mutual Fund, etc,” it said.
Managing Director Vivek Lohia said, through this fundraise the company intends to improve the efficiency of its working capital, accelerate growth trajectory through the planned acquisition and pursue other business objectives.
JWL is a leading provider of comprehensive mobility solutions encompassing rail, road, and marine transportation. The company also has a presence in the commercial electric vehicle (CEV) segment.
The company did not share any further details on the fundraise.
Jupiter Wagons raises Rs 125 cr via qualified institutional placement route (16-05-2023)
Jupiter Wagons Ltd (JWL) has raised Rs 125 crore through qualified institutional placement (QIP) route.
The funds will be utilized to accelerate its wagon manufacturing capacity, JWL said in a statement on Tuesday.
“JWL…has successfully concluded the fundraising exercise through QIP for Rs 125 crore. The QIP got an overwhelming response from investors like Tata Mutual Fund, Ananta Capital, ITI Mutual Fund, etc,” it said.
Managing Director Vivek Lohia said, through this fundraise the company intends to improve the efficiency of its working capital, accelerate growth trajectory through the planned acquisition and pursue other business objectives.
JWL is a leading provider of comprehensive mobility solutions encompassing rail, road, and marine transportation. The company also has a presence in the commercial electric vehicle (CEV) segment.
The company did not share any further details on the fundraise.