Sebi checks FPI mood

The

Securities and Exchange Board of India (Sebi) met the country's top foreign portfolio investors (FPIs) earlier this month to gauge their mood on issues like Minimum Alternate Tax and recommendations by the Special Investigation Team on participatory notes (P-notes). According to sectoral sources, the meeting was attended by Sebi Chairman U K Sinha. Beside these teething issues, one of the main things that came up was FPIs' displeasure over the pace of reforms due to a stalled Parliament, a source said.

Samie Modak

HNI investment in IPOs under Sebi scanner
The possible misuse of high net worth individuals (HNIs)' quota in Initial Public Offerings (IPOs) has come under the Securities and Exchange Board of India's scanner. Market sources say though HNIs have only 15 per cent quota in IPOs, many of them bid several times over, leading to multiple subscription of the issue. "In a recent IPO, eight HNIs had bid 52 times. This led to subscription of 12 times for the issue. The institution and retail investor portions weren't subscribed so aggressively. This gives out a wrong impression of the IPO's success," says an investment expert. Sources say the market regulator is looking to put some cap on HNI investment in an IPO.

Joydeep Ghosh

 

Yes Bank continues to scout for AMC
With four merger and acquisition deals since 2014, the mutual fund sector has seen a lot of activities. And, Yes Bank, which lost out to Pramerica in Deutsche Bank's asset management deal, continues to look for a good buyout. According to sources, the private sector lender is currently in talks with another foreign fund house on the block.

Chandan Kishore Kant