BUSINESS
Naresh Trehan’s Medanta looks to launch IPO; talks with five investment bankers on
JM Financial and Kotak Securities are among the five. Carlyle Group and Temasek hold significant minority stakes in the company, at 27 percent and 18 percent, respectively. Founder Dr Naresh Trehan, his family and co-founder Sunil Sachdeva hold the rest
BUSINESS
Paytm IPO | One97 Communications files draft papers for Rs 16,600-crore public offering
Paytm IPO: The company's move to file its Draft Red Herring Prospectus (DRHP) with Sebi comes days after its shareholders approved its plans to raise Rs 12,000 crore through a fresh issue of shares.
BUSINESS
SEBI tells appellate tribunal it can intervene in Rs 4,000-crore Carlyle-PNB Housing Finance deal
Regulator tells appellate tribunal that Companies Act empowers it to intervene in the deal, and the ICDR norms are meant to protect the interests of minority shareholders as well. If the article of association mentions independent valuation, why have they not undertaken independent valuation, SEBI asks.
BUSINESS
Has complied with all regulations in Rs 4,000-crore Carlyle deal, PNB Housing tells tribunal
The housing finance company tells Securities Appellate Tribunal that SEBI was focusing more on the articles of association, which is an agreement between two shareholders. Housing financier cites a similar deal by LIC Housing Finance and Barbeque Nation to bolster its case.
BUSINESS
SEBI formally approves Zomato's IPO application
Zomato, backed by China’s Ant Group, filed for the IPO in April and is said to be looking to raise up to $1.2 billion
BUSINESS
SEBI clears IPO application of Zomato
Zomato, backed by China’s Ant Group, filed for the IPO in April and is said to be looking to raise up to $1.2 billion.
BUSINESS
Stricter norms for independent directors will boost corporate governance in listed companies
With the Securities and Exchange Board of India strengthening the structure of boards of listed entities, instances of overruling independent directors may decrease significantly.
BUSINESS
Sebi amends regulations for IDs, criteria for InvITs and REITs; jacks up reward for insider trading informants
Amendments to Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (LODR Regulations) pertaining to regulatory provisions related to Independent Directors approved; no clearance for amendments to the Stock Exchange and Clearing Corporation regulations yet.
BUSINESS
SEBI board may discuss norms for independent directors, stock exchange ownership
The SEBI board of the regulator meets on June 29 and may also approve its annual accounts.
BUSINESS
SEBI grounds GoAir IPO for 90 days pending enquiry against promoter Bombay Dyeing
Regulator sends show cause notice to Bombay Dyeing alleging irreguarities.
BUSINESS
SAT allows Franklin Templeton to offer new debt schemes, cuts disgorgement amount
SAT grants partial relief to fund-houses from SEBI order, will pass final order on August 30.
BUSINESS
India’s largest battery recycling company eyes electric vehicle battery business
Gravita India is getting ready to recycle lithium-ion batteries used in electric vehicles, a market that’s expected to become viable in seven years
BUSINESS
SAT to pass order in Franklin Templeton case on June 28
The fund house had challenged the market regulator’s directives following the closure of six debt funds last year.
BUSINESS
CBI conducts searches at CG House in Gautam Thapar case
On June 9, the Central Bureau of Investigation had carried out searches at 14 locations in Delhi-NCR and three other cities after registering an FIR against Avantha group promoter Gautam Thapar, Oyster Buildwell and others
BUSINESS
SBI-led banks to sell Vijay Mallya’s shares worth Rs 6,200 crore next week to recover Kingfisher Airlines loan
The share sale of fugitive businessman’s shares in United Breweries, United Spirits and McDowell Holding is due on June 23 through a bulk deal.
BUSINESS
False alarm? NSDL did freeze accounts of Adani foreign fund investors, but in an unrelated 2016 case
Though the funds will remain in the frozen category until SEBI decides to lift the order, the action is limited to certain specific accounts only and has nothing to do with Adani shares.
BUSINESS
SEBI board may discuss 100% shareholding in MIIs, regulations for independent directors
Currently, ownership of exchanges, depositories and clearing corporations are capped at a lower shareholding limit of not more than 5 percent. If the proposals are implemented, it will benefit smaller exchanges that are in need of capital and technology.
BUSINESS
PNB Housing Finance deal with Carlyle is under Sebi scanner
A proxy advisory firm has questioned a proposed investment in the mortgage lending arm of Punjab National Bank by investors led by the American private equity firm.
BUSINESS
Tata Steel’s Chandrasekaran optimistic about industry prospects in post-pandemic era
In a message addressed to shareholders in the annual report, the group chairman said the company will strive to be a leader in the transition to a greener economy – aiming to create a virtuous cycle of growth and returns for them
BUSINESS
SEBI may open one more avenue for retail investor to buy shares in IPOs
The aim is to ease the effort involved in subscribing for new share sales and allow investors in smaller cities and towns to buy stock
BUSINESS
Indian steel prices to be stable as Chinese output likely to rise
Easing of emission restrictions in the world’s largest steel-producing city of Tangshan in northern China is expected to increase output and restrict the ability of Indian companies to raise prices
BUSINESS
SEBI’s compensation mechanism for small investors creates roadblock for IPOs
Investment bankers are unhappy with additional compliance burden and having to compensate investors for delays in refunds
BUSINESS
Market shifting from China to India to boost domestic chemical firms, says Deepak Fertilisers CMD
Despite the COVID-19 pandemic raging across the country, Sailesh C. Mehta is confident that the company’s robust growth numbers are sustainable.
BUSINESS
ED to transfer Vijay Mallya’s attached assets to banks, says PMLA court
A State Bank of India-led consortium of banks can now auction these properties to recover their dues that run in excess of Rs 9,000 crore.
