Big GIFT: Norms Unveiled for Direct Global Listing
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Big GIFT: Norms Unveiled for Direct Global Listing

India Wednesday decided to allow domestic public companies to issue and list their shares directly on a couple of global exchanges housed at the International Financial Services Centre (IFSC) in Gujarat’s GIFT City, a deemed foreign jurisdiction. The ministries of finance and corporate affairs notified the new regulatory framework, setting the stage for Indian startup…

MobiKwik Files IPO Papers Again, Seeks ₹700 crore

MobiKwik Files IPO Papers Again, Seeks ₹700 crore

Digital payments firm MobiKwik on Friday filed a draft prospectus with the capital markets regulator in its second attempt at an initial public offering. The company, run by One MobiKwik Systems, has also scaled down the size of the IPO and is currently seeking to raise up to ₹700crore by issuing fresh shares. MobiKwik may…

MobiKwik Board Clears ₹880-cr Public Issue

MobiKwik Board Clears ₹880-cr Public Issue

The board of digital payments and financial services company, MobiKwik has passed a resolution to raise ₹880crore via a fresh issue of shares through a public sale. This is the second attempt for Gurugram-based MobiKwik, towards an initial public offering (IPO) after it abandoned its listing plans on account of weak market conditions. The fresh…

Sebi asks Satyam promoters to repay ₹1,747 crore
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Sebi asks Satyam promoters to repay ₹1,747 crore

Markets regulator Sebi has directed B Ramalinga Raju, former chairman and promoter of the erstwhile software services major Satyam Computer, four of his associates and the investment company of the Raju family, to together disgorge Rs 624.1 crore and interest of about Rs 1,123 crore (Rs 1,747 crore) in perhaps the biggest such order by…

Invesco Under Sebi Lens for Alleged Violation of Rules

Invesco Under Sebi Lens for Alleged Violation of Rules

The Securities and Exchange Board of India (Sebi) has issued a show-cause notice to the local unit of Invesco, a US-based asset manager, for possible violations of mutual fund rules that potentially risked investor money, people familiar with the development told ET. Invesco is reportedly found to have shuffled securities between schemes in alleged violation…

Sahara-Sebi Refund Account may be Transferred to Govt
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Sahara-Sebi Refund Account may be Transferred to Govt

The government is looking into the legality of transferring unclaimed funds of the Sahara-Sebi Refund Account to the Consolidated Fund of India, with a provision to refund investors who stake claims later. The death of Sahara Group founder Subrata Roy last week has put the spotlight on the fund. There have been few claimants for…

Adani-Hindenburg Case: Contempt Plea Filed in Top Court Against Sebi
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Adani-Hindenburg Case: Contempt Plea Filed in Top Court Against Sebi

A plea has been filed in the Supreme Court seeking initiation of contempt proceedings against the Securities and Exchange Board of India (Sebi) for not completing its inquiry in the Adani-Hindenburg matter within the timeline framed by the apex court. It also asked the court to seek an explanation from the market regulator for failure…

Next Sebi Board Meet to Discuss Delisting Tweaks

Next Sebi Board Meet to Discuss Delisting Tweaks

The Sebi board will take up the proposal on allowing companies to delist by coming out with a fixed price instead of the existing reverse book building mechanism at its next board meeting, said chairperson Madhabi Puri Buch. “There was a popular belief that we would never review the delisting regulations and that we would…

Legal Proceedings Against Sahara Group to Go On: Sebi Chairperson

Legal Proceedings Against Sahara Group to Go On: Sebi Chairperson

The Securities and Exchange Board of India (Sebi) will continue with its legal proceedings against the Sahara Group even after the death of its founder Subrata Roy, its chief Madhabi Puri Buch said. “The passing of one individual does not change anything,” Buch said. “The case is against the group or entities and not against…