 "TeamLease's grey market premium up")
Demand for shares of TeamLease Services in the grey market has increased, due to strong response from investors. The grey market premium, about Rs 100 when the issue was opened, has shot up to Rs 190 after its initial public offering (IPO) saw huge oversubscription.
Anita Kapur emerges as surprise contender for Sebi chairman's post
Anita Kapur, an Indian Revenue Services (IRS) officer and former chairperson of the Central Board of Direct Taxes, has emerged as a surprise contender for the post of chairman of the Securities and Exchange Board of India (Sebi), said sources. In November last year, the government appointed her as an advisor on tax reforms for six months. Notably, Kapur is not among the seven officially shortlisted candidates for the post.
Catch 22 for promoters with high share pledge
The sharp drop in stock prices has caught promoters with high share pledge on the wrong foot. Lenders in at least half a dozen cases have invoked the shares pledged by promoters, after the latter failed to provide additional collateral in time. These promoters now want the shares invoked by lenders and are willing to provide additional security. However, such a move is likely to clash with the Securities and Exchange Board of India's takeover code regulation, as it would trigger an open offer due to the breach of five per cent creeping acquisition limit.
Samie Modak
Anita Kapur emerges as surprise contender for Sebi chairman's post
Anita Kapur, an Indian Revenue Services (IRS) officer and former chairperson of the Central Board of Direct Taxes, has emerged as a surprise contender for the post of chairman of the Securities and Exchange Board of India (Sebi), said sources. In November last year, the government appointed her as an advisor on tax reforms for six months. Notably, Kapur is not among the seven officially shortlisted candidates for the post.
Ashley Coutinho
Catch 22 for promoters with high share pledge
The sharp drop in stock prices has caught promoters with high share pledge on the wrong foot. Lenders in at least half a dozen cases have invoked the shares pledged by promoters, after the latter failed to provide additional collateral in time. These promoters now want the shares invoked by lenders and are willing to provide additional security. However, such a move is likely to clash with the Securities and Exchange Board of India's takeover code regulation, as it would trigger an open offer due to the breach of five per cent creeping acquisition limit.
Samie Modak