Markets regulator Sebi on Friday permitted asset management companies (AMCs) to provide management and advisory services to all FPIs operating from International Financial Services Centres (IFSCs).
This is subject to certain conditions, including that such Foreign Portfolio Investors (FPI) will be allowed to invest in mutual fund schemes other than the schemes in the category of “thematic”, the Securities and Exchange Board of India (Sebi) said in a circular.
For investment in equity and equity derivative securities listed on recognised stock exchanges in India, the FPIs will not be allowed to take contra-position for six months from the date of purchase or sale of such securities, it said.
It has been decided that AMCs may also provide management and advisory services to FPIs operating from IFSC and regulated by International Financial Services Centres Authority (IFSCA) not falling under the categories of FPIs specified by Sebi in its circular issued in December 2019, Sebi said.
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Posts in category Business Standard
Sebi permits AMCs to provide advisory services to all FPIs at IFSC (06-01-2023)
Sebi proposes standard approach for valuation of AIF investments (06-01-2023)
The capital market regulator has also recommended appointment of independent valuers, specifically for unlisted entities
JG Chemicals files preliminary papers with Sebi; to raise funds via IPO (06-01-2023)
Zinc oxide manufacturer JG Chemicals has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO).
The IPO comprises fresh issue of equity shares worth up to Rs 202.50 crore and an offer-for-sale (OFS) of 57 lakh equity shares by its existing promoter group shareholders, according to its draft red herring prospectus(DRHP).
As part of the OFS, Vision Projects & Finvest Pvt Ltd will sell 36.40 lakh shares, Suresh Kumar Jhunjhunwala (HUF) will offload 12.70 lakh shares, Anirudh Jhunjhunwala (HUF) will divest 6.50 lakh shares and Jayanti Commercial Ltd will offer 1.40 lakh equity shares.
The firm may consider a pre-IPO placement of equity shares aggregating to Rs 40 crore or a secondary sale of 28.50 lakh equity shares by its selling shareholders or a combination thereof. If such placement is undertaken then the fresh issue size or offer-for-sale portion will be reduced.
Proceeds from the fresh issue will be used for …
CoinSwitch says it has a surplus of users’ crypto assets worth Rs 1,083 cr (06-01-2023)
Exchange says it has enough reserves to meet withdrawals made by its users even in “turbulent” times
Oil firms making Rs 10 a litre profit on petrol, Rs 6.5 loss on diesel (06-01-2023)
Oil companies are selling petrol at a profit of Rs 10 per litre but retail prices haven’t been reduced as they recoup past losses and make up for a Rs 6.5 a litre loss on diesel, a report said.
State-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) have for the past 15 months not revised petrol and diesel prices in line with the cost. They have times of low oil prices to recoup losses incurred when rates were high.
“Post record high losses of Rs 17.4 per litre on petrol and Rs 27.7 a litre diesel for the week ended June 24, 2022, margins for petrol are estimated at a positive Rs 10 per litre for Q3 (October-December 2022) while diesel losses too have likely narrowed to Rs 6.5 a litre for the same quarter,” ICICI Securities said in a report.
The three fuel retailers haven’t changed petrol and diesel prices since April 6, 2022, despite input crude oil prices rising from USD 102.97 per barrel that month to USD ..
Gold declines Rs 153 amid fall in precious metal prices globally (06-01-2023)
Gold price in the national capital declined Rs 153 to Rs 55,650 per 10 grams on Friday amid a fall in precious metal prices globally, according to HDFC Securities.
The yellow metal had ended at Rs 55,803 per 10 grams in the previous trade.
Silver also fell Rs 7 to Rs 68,700 per kilogram.
“Gold price fall was extended after stronger than expected US job market data allowed US Fed to continue with higher interest rate,” said an analyst at HDFC Securities.
In the overseas market, gold was quoting lower at USD 1,839.6 per ounce while silver was flat at USD 23.46 per ounce.
The US job market data pushed US dollar to a fresh one-month high. Rising interest rates and higher dollar index tend to weigh on yellow metals, the analyst added.
Indian shares drop 1% on earnings as US data indicates rise in Fed rate (06-01-2023)
US data showed private employers hired more workers than expected in December, suggesting strength in the labour market that could allow the Fed to boost interest rates
Crypto wrap: Market up but Gemini-DCG fiasco poses threat, say experts (06-01-2023)
Co-Founder of crypto exchange Gemini Cameron Winkelvoss gave a soft ultimatum to Digital Currency Group (DCG) CEO Barry Silbert to collaborate on repaying Genesis by January 8
Sigachi Industries zooms 19% as board plans to mull fund raising plan (06-01-2023)
The board of SIL will meet on January 10, 2023 to consider the proposal of raising funds by way of issue of equity or convertible warrants on preferential basis to the promoters and non-promoters.
Dabur India falls 4% after Q3 update hints high inflation to dent margins (06-01-2023)
On account of challenging macro-economic environment and muted category growths in the quarter, the management anticipates to report low to mid-single digit revenue growth