Unlisted Companies

Tata Sons, the holding company of the Tata Group, has voluntarily surrendered its certificate of registration to the Reserve Bank of India (RBI)

And contrary to what you might think, it is all kosher

Just like the normal equity markets, investors can buy and sell shares of unlisted companies through select online platforms or well-known wealth managers/ brokers.

The industry players say that the new avenue will help startups and unlisted companies access global capital

Capital markets regulator Sebi is looking to introduce disclosure requirements for unlisted companies, which are part of a business conglomerate. While listed entities are subject to comprehensive disclosure requirements, the same levels of disclosure requirements are not applicable for unlisted companies. "There is a need to identify, monitor and manage risks introduced into the securities market ecosystem by unlisted companies in a conglomerate with a complex set of listed and unlisted associates," Sebi said in its annual report for 2022-23. Also, the regulator plans to facilitate transparency around the conglomerate by enhancing the group-level reporting of transactions. "Disclosure of details of cross-holding and material financial transactions within the conglomerate are also some of the matters that Sebi would examine to be disclosed on an annual basis," the annual report noted. The country's top business conglomerates include Tata Group, Reliance Industries, Adani Group, Ad

The top 30 list has four pharmaceutical and health care companies - unsurprising, since the Covid-19 pandemic sent the demand for health care products and services soaring

The Income Tax Department is likely to come out with modified valuation rules under the I-T Act for ascertaining the fair market value (FMV) of shares of unlisted companies for the purpose of levying tax on non-resident investments, an official said. The Finance Bill, 2023 has proposed amending Section 56(2)(viib) of the I-T Act, thereby bringing overseas investment in unlisted closely held companies, excepting DPIIT-recognised startups, under the tax net. The official said that amendments are needed as I-T Act and FEMA provide different methodologies for calculating the FMV of shares of unlisted companies. "Rule 11UA of I-T rules will be re-prescribed taking into account the concerns expressed by stakeholders to harmonise it with the FEMA regulations," the official told PTI. Rule 11UA deals with determination of FMV of assets, other than immovable property. Under the existing norms, only investments by domestic investors or residents in closely held companies were taxed over and

Average wages paid by listed companies is more than twice the salaries paid by other enterprises

The Pune-based vaccine producer's value has increased 20 per cent to Rs 2.2 trillion in the past one year

Share prices, trading activity slump amid rising uncertainty for startup listings

A public blockchain for decentralised finance, Newrl has developed tokenisation-based equity solutions for unlisted companies offering ESOPs

The SEC on Wednesday expanded the list, consisting of US-listed Chinese entities, on a provisional lineup under a 2020 law known as The Holding Foreign Companies Accountable Act.

In all, 18 out of the best 30 unlisted companies in the 2021 league table are local subsidiaries of global multinationals.

As investors sit outside the board room looking in, they do not really know which of the directors has been constructive or how much each individual director has contributed

Shares of most unlisted stocks have corrected in-line with the fall in the secondary market. However, a few companies seem to have been spared.

If much higher profits this year do not propel corporation tax revenue to a level higher than the FY19 peak, something must be wrong with corporation tax, writes T N Ninan

Market experts say the Paytm IPO fiasco will lead to investors asking more questions and give more importance to metrics such as cash flows and price-to-earnings

However, investors have to deal with counterparty risk

A snapshot of the key data on Indian companies

The list of India's best unlisted companies is dominated by the subsidiaries of US, European and Japanese MNCs