merchant bankers

The government is in the process of redrafting the proposal document format for appointment of merchant bankers to avoid the conflict of interest between the public and private share sale issues. Full Article

SEBI - Format for application to SEBI for opening of wholly owned subsidiaries or entering into joint ventures in other countries (Applicable for Stock Brokers, Bankers to an Issue, Merchant Bankers, Registrar to an Issue and Share Transfer Agents, Full Article

The Cabinet Committee on Economic Affairs today approved the appointment of Merchant Bankers and other intermediaries to disinvestment transactions involving offer for sale or fresh issue by the company in conjunction with offer for sale be advanced to an earlier stage in the process of disinvestment. Full Article

The committee, which had representations from stock exchanges, law firms, brokerages and depositories, among others, reviewed the eligibility norms for market intermediaries including merchant bankers, asset management companies (AMCs), credit rating agencies, brokers and depositories. Public comments can be submitted until June 14. Full Article

It’s not going to be easy for small and unlisted companies to issue employees stock options schemes (ESOPs) as per the latest Central Board of Direct Taxes (CBDT) rules for valuation of perquisites. The valuation rules for calculating the fair market value of shares allotted to employees is substantially the same as compared to the fringe benefit tax (FBT) regime. “Employers once again have to obtain a valuation from a Category 1 merchant banker to determine the fair.. Full Article

2) Period for which the issue may remain OPEN:Rights offer shall be made by Notice specifying the number of shares offered and limiting a time not being less than 15 days from the date of the offer within which the offer, if not accepted, will be deemed to have been declined {Section 81(1)(b)}. Full Article

As per the Listing Agreement with the Stock Exchanges, the issuer company deposits 1% of the issue amount of the securities offered to the public and/or to the holders of the existing securities of the company, as the case may be, with the designated stock exchange. This amount was being released to issuer companies after obtaining a No Objection Certificate (NOC) from SEBI in accordance with the SEBI (Disclosure and Investor Protection) Guidelines, 2000. Since these Gui.. Full Article

SMEs, which depend on expensive loans and stocks and raise money from the public. As part of its efforts to encourage SMEs to go public, the Securities and Exchange Board of India (Sebi) on Monday exempted them from the usual eligibility norms applicable for initial public offerings (IPOs) and follow-on public offerings. These norms include a minimum pre-issue networth and profit-making track record. Full Article