BUSINESS
MC Exclusive: More than 100 merchant bankers could lose SEBI licence
A SEBI consultation paper released last month proposed many new rules for merchant bankers, including one related to cancelling their licence if they do not earn a certain quantum of income from core merchant banking activities.
BUSINESS
Does spurt in abrupt resignations by statutory auditors point to governance issues?
Experts believe that this is a major governance issue and while the reasons for such sudden departure needs to be examined and analysed, auditors have mostly been very ambiguous in terms of giving the reasons for resigning
BUSINESS
Govt mulls key change in rules to give brokers more flexibility to use own funds
Simply put, the rule stipulates that brokers who are members of any stock exchange cannot engage in any business other than that of securities or commodities derivatives and they also cannot engage in any other activity that involves personal financial liability.
BUSINESS
MC CEO Pay Report: How much were India Inc top bosses paid in FY24?
Among the Nifty 50 companies, there are three top bosses - Thierry Delaporte of Wipro, who resigned in April, Pawan Munjal of Hero MotoCorp, and Rajeev Jain of Bajaj Finance - who took home in excess of Rs 100 crore each in FY24
BUSINESS
SEBI's financials in strong shape on buoyant market and vibrant fund raising activity
A vibrant primary market has ensured that SEBI managed to earn over Rs 270 crore through the filing fee that entities have to pay the watchdog upon submitting offer documents for IPOs, takeover offer or buyback, among other things.
BUSINESS
SEBI staff profile: Nearly 60% between 21-40 years old; MBAs leading in qualifications
While employee protests are common at workplaces especially when a large number of blue-collar jobs are involved, SEBI has a predominant white-collar staff strength with people with qualifications related to management forming the largest chunk and the average age of the staff pegged around 39 years.
BUSINESS
Junior officers misguided by external elements on HRA issues, says SEBI
Junior staffers were misguided to believe that "they are being “underpaid”, even at a CTC of Rs 34 lakh per annum, the market regulator said in its statement
BUSINESS
Select set of institutional investors gobble up anchor portion of SME IPOs
The anchor allocation in SME IPOs appears to have become a club of select set of institutional investors as data shows that a few handful of investors are being allocated shares in most of the public issues in the segment dedicated for small and medium enterprises (SMEs).
BUSINESS
SEBI probes into insider trading, front running matters jump in FY24
Data from the Securities and Exchange Board of India shows that the number of investigations related to insider trading jumped from 85 in FY23 to 175 in FY24. Similarly, probes related to front running jumped more than three times from 24 to 83 during the same period
BUSINESS
Gautam Singhania says Raymond Lifestyle set to list next week, demerged verticals will create value
Raymond Group demerged its apparel business last year and put in place a strategy for all three verticals – real estate, lifestyle and engineering. The real estate vertical is expected to list next year, says CMD Gautam SInghania.
BUSINESS
SME IPOs: 2024 is setting new benchmarks in oversubscription, listing gains
The list of top 20 SME IPOs, in terms of oversubscription, is heavily dominated by public issues that have come to the market in 2024. As many as 16 of the top 20 were launched in CY24, with two of the IPOs seeing subscription in excess of 1000 times each.
BUSINESS
Short Call: SME IPOs grab headlines even as many advise caution; Medi Assist Healthcare, CESC, Indegen in focus
FOMO is a trap that can lead investors to lose money. - American economist Robert Shiller
BUSINESS
Ready to make Stewardship Code for mutual funds more effective, says Sebi member Amarjeet Singh
The Stewardship Code refers to the principles and guidelines laid down for funds to monitor and engage with their investee companies on issues related to corporate governance, environmental, social and governance (ESG), and strategy among other things while also managing any conflict of interest scenarios to ensure that the interest of the investors is always placed first.
BUSINESS
Indian markets need new asset class, new listings: SEBI member Amarjeet Singh
The capital market watchdog recently issued a discussion paper, proposing a new asset class aimed at investors with a higher risk appetite compared to a mutual fund investor
BUSINESS
SEBI concludes deliberations on allowing MFs in credit default swap arena
While speaking at the Moneycontrol Mutual Fund Summit, SEBI whole-time member Amarjeet Singh said that the deliberations have concluded on allowing funds flexibility in the credit default swap or CDS arena.
BUSINESS
Sebi probing role of unregistered ‘IPO advisory firms’ in SME IPO segment
The capital market regulator is investigating the actions of 3-4 IPO advisory firms — based in Mumbai and Ahmedabad — and have been hyper active in the SME IPO segment
BUSINESS
Remove all special rights given to select shareholders before IPO, Sebi tells bankers
In quite a few cases recently, the regulator directed bankers to drop special rights like buyback guarantee that a company might have entered into with certain shareholders
BUSINESS
AMFI likely to knock govt doors again for restoring indexation benefits
While the government has decided to restore indexation benefits for the real estate industry, no such rollback has been announced for the mutual fund industry, which has already written to the government seeking certain relaxations in the Budget announcements.
BUSINESS
Family offices unfazed by market turmoil
But if the investment approach of family offices is anything to go by, then it would not be wrong to say that while these data points could be worrisome for many, they are certainly not for the sophisticated family office club who are there in the market for the long haul.
BUSINESS
Japanese FPIs own shares worth Rs 2.06 lakh crore in India
Japan’s equity benchmarks slid more than 20% from record highs reached last month as investor confidence crumbled from the surge in the yen, tighter monetary policy
BUSINESS
Sebi nudge ensures IPO-bound firms come clean on list of promoters
Merchant bankers and lawyers who are active in the primary market say that heightened focus on disclosures by the regulator and bourses have ensured that entities that either have a controlling stake or have sufficient influence in terms of control – direct or indirect – are included in the list of promoters.
BUSINESS
Composite issue... there was one recently in the SME segment
None other than Sebi chairperson Madhabi Puri Buch has brought to the fore the concept of a composite issue, which was always present in the regulatory framework of the Indian stock market but has rarely been used.
BUSINESS
Sebi chief Madhabi Puri Buch on love, affection and insider information
According to Sebi Chairperson Madhabi Puri Buch, the intent is to align the regulatory framework with that of the Income Tax Act and Companies Act.
BUSINESS
Here's how much money Radhakishan Damani made in UltraTech Cement-India Cements deal
Data compiled by Moneycontrol shows that Damani, along with his relatives and investment companies, has been consistently increasing his stake in the cement major over the years with his total acquisition price expected to be in the range of Rs 600-700 crore.
