Four discoveries at KG-D6 satellite fields approved -USD 1.53 billion investment plan for development of 4 discoveries -KG-D6 management committee approves FDP for satellite fields -Estimated 0.6 tcf reserves at discoveries
SEBI board meet outcome -Introduces additional methods for companies to meet 25% public float norms -Allows Institutional Placement Programme (IPP) via fresh issue or dilution by promoters -IPP only to QIBs; minimum 25% reserved for MFs and insurance companies -Companies to announce indicative floor price/price band 1 day prior to offer opening -Aggregate demand schedule under IPP to be displayed by SEs -Companies to maximize no of allottees so as to ensure wider distribution of shares -Minimum 10 allottees in every IIP issue -No single investor shall get allotment for >25% of offer size -Allotment may be on price priority, proportionate or on pre-specified criteria as disclosed
SEBI amends buyback regulations -Amendments to enhance efficiency of buyback process -Companies to announce buyback ratio as in case of rights issue -Companies to fix a record date; to determine entitlement as per shareholding on record date
CCEA to approve PSU buybacks on Wednesday -Cabinet note proposes new divestment policy -Divestment policy to allow PSU buybacks, crossholdings
More M&A deals to come under CCI scanner -MCA mulls amendment to M&A exemption notification -MCA mulls tightening of M&A exemption limits -Companies with Rs 750 crore turnover and Rs 250 crore assets to be exempted -Competition act to be amended to include Maira committee recommendations -DIPP secretary, MCA secretary, CCI chairman to meet at PMO on January 4 -FIPB likely to be given extension to vet pharma M&As -Pharma M&As above threshold may need CCI & FIBP nod -FIPB approval must for brownfield pharma M&A -CCI was expected to take over from FIBP
Other stocks and sectors that are in news today: -Home Ministry shoots down Mundra Port's bid again to develop a port in Kerala on security grounds - ET -Wockhardt to offer same deal to SBI it offered to other FCCB holders, SBI to gain Rs 242 crore from deal - ET -JBM Group buys majority stake in UK's Tesco GO -Delhi HC rejects DLF's plea against SEBI probe; imposes Rs 2 lakh -SBI drops JV plans with Visa Inc, Elavon Inc -CBEC has asked Kingfisher to clear December service tax dues by January 5/6 or face action, including freezing of its bank accounts. -Stocks in F&O Ban: Ruchi Soya and Gitanjali Gems
