Page 3 - Capital Markets

Micro, macro and geopolitical factors favouring Indian markets: Ajay Saraf

Markets activity will be robust but be careful around large events, says the head of Investment Banking and Institutional Equity at ICICI Securities

Facility of online payments to Sebi's investor protection fund operational

Capital markets regulator Sebi on Wednesday said it has started the mechanism for making online payments to its Investor Protection and Education Fund (IPEF). The use of online only mode has been made mandatory and the facility is now active under the tab "click here to make payment to Sebi IPEF" on the regulator's website. The move is aimed at streamlining the payment process and enhance accessibility for all the contributors to the fund. Intermediaries can now make payments to IPEF conveniently using various payment methods, including net banking, NEFT/RTGS, debit cards, and UPI. Henceforth, the remittances to Sebi IPEF shall be made only through the website link, by providing the requisite information like name of the payer, PAN, mobile number, email ID, the purpose for which payment is made, the amount to be paid, etc, Sebi said in a release. On Monday, the markets regulator came out with a circular that crediting of funds to its IPEF can be done only online and via a link giv

Three IPL teams looking to unlock value by public listing, raising PE funds

A BCCI official said that the teams approached the board for clarity on listing on bourses. At the current moment, the discussions are in the initial stage

Jyoti CNC Automation files papers to raise Rs 1,000 crore via IPO

CNC machine manufacturer Jyoti CNC Automation Ltd has filed preliminary papers with capital markets regulator Sebi to raise Rs 1,000 crore through an initial public offering (IPO). The company's maiden public issue is entirely a fresh issue of equity shares with no offer for sale (OFS) component, according to the draft red herring prospectus (DRHP) filed on Friday. The company may consider a pre-IPO placement of equity shares worth Rs 200 crore. If such placement is undertaken, the size of the fresh issue will be reduced. Proceeds from the issue would be used for debt payment, funding long-term working capital requirements of the company, and general corporate purposes. Jyoti CNC Automation is one of the leading manufacturers of computer numerical control (CNC) machines and has customers in varied sectors. The company's customers include ISRO, BrahMos Aerospace Thiruvananthapuram Ltd, Turkish Aerospace, Uniparts India Ltd, Tata Advances System Ltd, Tata Sikorsky Aerospace Ltd, Bha

Sebi rejigs panel on alternative investment policy; expands to 25 members

Sebi has reconstituted its alternative investment policy advisory committee, which advises the capital markets regulator on a range of issues that impact further development of the AIF space. The committee has now 25 members, as per latest update with the Securities and Exchange Board of India (Sebi). The panel, which was constituted by Sebi in March 2015, had 20 members when it was last rejigged by the regulator in February 2022. Till now, the committee has submitted three reports on the AIF (Alternative Investment Fund) industry. The committee is chaired by Infosys co-founder N R Narayana Murthy. Apart from Murthy, the committee includes members from Sebi, Ministry of Finance, AIF players and industry associations. Sebi has replaced Renuka Ramnath, who was chairperson of Indian Private Equity and Venture Capital Association (IVCA), from the list with the association's new chairman Karthik Reddy. In addition, the regulator has added Rajiv Dhar, who was appointed as Managing Dir

Free float: The market's missing factor

The regulatory definition of public float needs to align with the market practice of free float

Sebi initiates process to hire 2 executive directors, invites application

The appointment of executive director will either be on a deputation or contractual basis, for a period of three years, the regulator said in a public notice

Shares of Angel One tank following action by National Stock Exchanges

NSE said the action against Angel One was for failing to monitor the operations of its APs, which resulted in alleged violation of capital market regulations

Sebi asks CRAs to disclose lists of non-cooperative issuers with them

With an aim to boost transparency, capital markets regulator Sebi on Monday asked credit rating agencies to disclose lists of issuers who are non-cooperative with them. This comes after Sebi observed over the time the number of issuers that are non-cooperative with CRAs (Credit Rating Agencies) have increased, with a vast majority of INC issuers being unlisted and small entities. In this regard, to provide enhanced transparency and information regarding non-cooperative issuers to various stakeholders, market participants and investors, Sebi said, "CRA shall disclose two lists of issuers who are non-cooperative with the CRA, separately for securities that are listed, or proposed to be listed, on a recognised stock exchange, and other ratings." The list would be disclosed in a prescribed format and the disclosure would be updated on a daily basis, the Securities and Exchange Board of India (Sebi) said in a circular. The new circular will be applicable with effect from July 15, 2023,

TVS Credit Services raises Rs 480 crore capital from Premji Invest

The primary capital will be utilised to further strengthen TVS Credit's efforts in expanding its customer base in new markets

Street Signs: A bitter pill for Gland Pharma, Small-cap stock's F&O & more

Capital markets regulator Securities and Exchange Board of India plans to ease a rule that will make fund managers breathe a little easier

Mutual fund investors show bias towards riskier small-cap-oriented schemes

Inflows into small-caps highest among market cap-oriented fund categories in March

Mauritius down; Norway, Singapore gain as FPI destinations in FY23

The total assets under custody (AUC) from Mauritius declined nearly 42 per cent to Rs 3.25 trillion at the end of March 2023, from Rs 5.55 trillion a year ago.

P-notes investment dips to Rs 88,398 cr in Feb amid higher valuation of mkt

Investment in the Indian capital markets through participatory notes dropped to Rs 88,398 crore month-on-month in February amid higher valuation of domestic markets. This was the third consecutive monthly decline in the investment level. Before this, investment through the route had been on an increasing trend since July 2022 because of a slump in the oil and other commodities prices and the relative outperformance of Indian equity markets. Participatory notes (P-notes) are issued by registered Foreign Portfolio Investors (FPIs) to overseas investors who wish to be a part of the Indian stock market without registering themselves directly. They, however, need to go through a due diligence process. According to Sebi data, the value of P-note investments in Indian markets -- equity, debt, and hybrid securities -- stood at Rs 88,398 crore at the end of February compared to Rs 91,469 crore in January-end. Prior to that, the investment level through the route was Rs 96,292 crore at the e

Sebi passes interim orders against entities for stock manipulation via YT

The Sebi in preliminary investigations, identified 46 entities that used the video streaming platform to pump and dump stocks

'Impound Rs 30.6 crore': Sebi diktat in Axis MF front-running case

The regulator ordered the impounding of Rs 30.6 crore - total wrongful gains earned from front-running activities

Sebi proposes to enhance role, accountability of mutual fund trustees

Amidst growing scale of the mutual fund industry, capital markets regulator Sebi has proposed to increase the role and accountability of the trustees in a bid to safeguard unitholders' interest. In addition, the regulator has suggested to enhance the accountability of board of asset management company (AMC). Also, Sebi has proposed a common platform for dissemination of public announcements by mutual funds. In order to have an independent review mechanism for the decisions of AMC from the perspective of the unitholders' interest across all products and services, Sebi has proposed to mandate that a "Unit Holder Protection Committee (UHPC) should be constituted by board of AMC". In its consultation paper, Sebi has suggested that trustees of mutual funds should focus on market abuse by AMC, its employees and mis-selling by the AMC to increase the asset base. Also, trustees should be responsible for fairness of fees and expenses charged by the AMC, compare its performance with peers a

Investment in capital mkts via P-notes drops to Rs 96,292 cr in Dec: Sebi

Investment in the Indian capital markets through participatory notes slightly dropped to Rs 96,292 crore at the end of December 2022 from the preceding month on higher valuation of domestic markets. Before the decline, the investment through the route had been on an increasing trend since July because of a slump in prices of oil and other commodities and relative outperformance of Indian equity markets. Participatory notes (P-notes) are issued by registered Foreign Portfolio Investors (FPIs) to overseas investors who wish to be part of the Indian stock market without registering themselves directly. They, however, need to go through a due diligence process. According to Sebi data, the value of P-note investments in Indian markets --- equity, debt, and hybrid securities -- stood at Rs 96,292 crore at December-end, as compared to Rs 99,315 crore at the end of November. The investment level through the route was at Rs 97,784 crore at October-end, Rs 88,813 crore at September-end, Rs .

Sebi amends rules; intermediaries require prior nod for change in control

Capital markets regulator Sebi has amended rules which require vault managers and custodians to seek the watchdog's prior approval in case of change in control. The changes have been made to streamline the process of providing approval to the proposed change in control of the entities. In a notification, the Securities and Exchange Board of India (Sebi) said that the vault managers and Custodians will have to obtain prior approval of the Board in case of change in control in such a manner as specified by the regulator. To give this effect, Sebi has amended rules governing custodian and vault managers and the new rule has become effective from January 17. Vault manager is regulated as a Sebi intermediary for providing vaulting services meant for gold deposited to create electronic gold receipts (EGRs). The obligations of the vault manager include accepting deposits, storage and safekeeping of gold, creation as well as withdrawal of EGR, grievance redressal and periodic reconciliatio

Sebi bans 4 entities from market for unauthorised advisory services

Capital Markets regulator Sebi on Tuesday barred four entities from the securities markets for providing unauthorised investment advisory services without the regulator's authorisation. The regulator has restrained PNP Shareon Solutions, its proprietor Pradeep Haldar, PNP Solutions and its proprietor Prakash Haldar from securities markets for six months. PNP Shareon Solutions, PNP Solutions, Pradeep and Prakash Haldar are collectively referred to as noticees. The present proceedings emanate from a show cause notice issued to noticees by the regulator in August 2021. In its final order, Sebi found that noticees were engaged in providing investment advisory services without obtaining a certificate from Sebi as an investment adviser, thereby violating IA (Investment Advisers) rules. The total amount of money collected by the noticees is Rs 60.49 lakh from September 2017 to June 2020. Sebi has directed the noticees to refund jointly and severally within three months, the money receiv