BUSINESS
Listing-day performance not a proxy for regulatory success or failure: SEBI Chairperson Tuhin Kanta Pandey
The regulator also approved changes to how IPO disclosures are presented, requiring a draft abridged prospectus to be made available at the DRHP stage.
PODCAST
Inside Digantara's pivot from space to defence; Google Pay takes UPI beyond bank balance; and Atlys in talks to raise around $40 million
In today’s Tech3 from Moneycontrol, we break down why space tech startup Digantara is shifting its focus from commercial space to defence customers after a $50 million raise. We also look at Google Pay’s move to bring RuPay credit cards onto UPI, what it means for payments and competition, the funding buzz around visa platform Atlys amid a travel boom, and why Japan’s Mizuho is buying a controlling stake in Avendus.
BUSINESS
SEBI Chairperson says regulator won’t interfere in IPO offer-for-sale decisions
During SEBI's latest board meeting, Tuhin Kanta Pandey said, “We don’t want to prescribe one particular model of capital formation.” Therefore, ruling out any near-term move to impose OFS-specific norms.
INDIA
Luthra Brothers allowed fireworks in nightclub despite knowing the risks: Police to court
The police also said that owners were fully aware that such an activity posed serious fire hazards and was likely to cause loss of life.
BUSINESS
SEBI chair says decision on MF overhaul on brokerage and TER cap ‘a balanced version’ after consultations
The board also approved changes to the total expense ratio framework by excluding statutory and regulatory levies such as securities transaction tax, GST, stamp duty, SEBI fees and exchange charges from the base expense ratio. For index funds and exchange-traded funds, the base expense ratio has been fixed at 0.90%, compared with the earlier 1% cap that included levies.
INDIA
'She has taken over everything': Sanjay Kapur's sister says Priya Sachdev gets Rs 5 crore from his company per month but his mother gets only Rs 12 lakh
"She (Priya) is not doing any favour to anyone. It is coming from the company. She thinks she is looking after my mother? I think she needs to have a reality check and rephrase that," she added.
BUSINESS
FIIs turn net buyers of Indian equities worth Rs 1172 crore, DIIs net buy equities worth Rs 769 crore
For the year so far, FII/FPIs remain net sellers, having offloaded Indian equities worth Rs 2.79 lakh crore. On the other hand, DIIs have added significant strength to the market, with their cumulative buying reaching Rs 7.48 lakh crore during the same period - the highest ever in a single year.
BUSINESS
SEBI approves LODR amendments to ease demat credit and physical share transfers
SEBI has decided to dispense with the requirement for issuance of a Letter of Confirmation (LOC) for investor service requests such as issuance of duplicate share certificates, transmission, transposition, claims from unclaimed suspense accounts and corporate actions.
INDIA
Passengers leap to safety as van rolls downhill near Dalhousie | Video
The van was prevented from plunging into a deep gorge only after it crashed into a tree. Locals and fellow tourists rushed to the spot and helped pull the passengers to safety.
BUSINESS
Ola Electric shares hit all-time low; Bhavish Aggarwal offloads nearly 1% stake for Rs 142.3 crore
In the past two straight sessions, Bhavish Aggarwal offloaded more than 1.5 percent stake in the company for Rs 234.17 crore.
BUSINESS
Debt issuers can give incentives to some investors in public offers: SEBI
Market regulator expects debt issuance incentives to increase retail participation
BUSINESS
Neptune Logitek IPO sail through with over 1.5 times subscription on final day; Global Ocean Logistics offer starts on healthy note
Neptune Logitek will finalise IPO share allotment by December 18 and its shares will be available for trading on the BSE SME effective December 22.
BUSINESS
SEBI board clears expansion of credit rating agencies’ mandate beyond SEBI-regulated instruments
SEBI's move to expand credit ratings agencies' mandate is aimed at addressing regulatory gaps faced by market participants, while putting in place safeguards to ensure clear separation between SEBI-regulated rating activities and non-SEBI-regulated businesses.
BUSINESS
SEBI board announces higher threshold for High Value Debt Listed Entities
The regulator in its consultation paper added that the changes are aimed at “enhancing ease of doing business” while ensuring adequate investor protection in the corporate bond market.
INDIA
Bengaluru airport’s new pick-up rules affect Rapido, Namma Yatri, Shoffr and others
Only aggregators authorised by Bangalore International Airport Limited can now pick up passengers from the kerbside, officials say
BUSINESS
SEBI board approves changes to IPO lock-in norms, disclosure framework
IPO-bound companies must give summary of offer documents while filing DRHP; shares pledged by non-promoters of IPO-bound company are 'non-transferable', decides SEBI
INDIA
Lok Sabha passes SHANTI Bill to overhaul India’s nuclear energy framework
This Bill will give a new direction to the country’s developmental journey, says Dr Jitendra Singh in the LS, during the discussion of SHANTI Bill.
BUSINESS
SEBI board defers conflict of interest framework
There is broad agreement on implementing an automated framework to improve the process. Public disclosure of certain employees’ assets and liabilities has been suggested, which raises privacy concerns, says SEBI Chairman
BUSINESS
SEBI board announces overhaul of Mutual Fund regulations, clears fee revamp
SEBI caps mutual fund brokerage at 6 bps; SEBI OKs excluding all statutory levies from MF base expense ratio
INDIA
Delhi Environment Minister Sirsa says capital to not see significant improvement in AQI in coming days
Further spekaing baout the situation that has everyone worried, he mentioned some measures to control the air pollution.
BUSINESS
SEBI board approves revamp of stockbroker regulations; replaces 1992 framework
SEBI Chairman Tuhin Kanta Pandey said the first objective of the overhaul of stockbroker regulations was the “active removal of repetitive and redundant provisions” and alignment with other regulatory frameworks. The new regulations are aimed at modernising market practices, simplifying compliance and bringing clarity to evolving trading models.
BUSINESS
SEBI Board Meeting Highlights: SEBI moves to simplify IPO documents as long DRHPs confuse investors, says Tuhin Kanta Pandey
SEBI Board Meeting Highlights: There has also been a significant reduction in length of approximately 44%, from 162 pages to 88 pages, says Tuhin Kanta Pandey
INDIA
Meet Salim ‘Awasthi’: CPI-M leader, son's name changed in draft West Bengal voter list
In a sharp remark, Aziz wrote that while sections of the media and the BJP had claimed the SIR would be used to target Muslims, the process instead ended up “turning both my father Md Salim and me into Brahmins” by adding the surname.
INDIA
‘No Nehru papers missing’: Govt counters Congress claim, cites 2008 transfer to Sonia Gandhi
The issue began after Centre stated in Parliament that no Jawaharlal Nehru-related documents were missing from the Prime Ministers Museum and Library.
