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QIP – Stock Exchange requirement & compliance by issuer

Placement document is to be as per the requirements of Chapter VIII of ICDR with a disclaimer in bold capital letters that “the placement is meant only for QIBs on a private placement basis and is not an offer to the public or to any other class of investors.”...

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Posted Under: SEBI |

Guideline for Public Issue of Insurance Companies likely in April 2010

The initial public offer guidelines for the insurance sector is likely to announced next month, the Insurance Regulatory & Development Authority (Irda) said on Monday. "The guidelines could take a month time and Sebi will take the final call," Irda chairman J Harinarayan said....

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Putting you out of business is not a penalty, says Supreme Court

The Securities and Exchange Board of India (SEBI) has never been armed with stronger draconian powers over the fate of Indian citizens. A recent opinion of the Supreme Court has held SEBI to be a social welfare organisation, and its powers under Sections 11(4) and 11B of the SEBI Act, 1992 (the Act) as not being “penal” in nature. Con...

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In case of Merger/Acquisition, target company board may be asked to guide shareholders

The Securities and Exchange Board of India’s (Sebi) committee on takeovers headed by C Achuthan is seriously considering making it mandatory for boards of target companies to guide shareholders in the event of competitive bids in line with global best practice....

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Role of QIBs in capital issues – Preview of current scenario

On 5th March,2010, SEBI announced that it would be mandatory for `Qualified Institutional Buyers’ (QIBs) to put in 100 per cent of the application money towards subscription of shares in capital issues through offers. This would come into force from 1st May, 2010. Presently, QIBs are required to pay just 10 per cent of the share value ...

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Posted Under: SEBI |

S&P CNX Nifty – Frequently Asked Questions

1. What are the essentials of a stock market index ? 2. What do the ups and downs of an index mean? 3. What is the basic idea of an index? 4. What kind of averaging is done? 5. What is the portfolio interpretation of index movements? 6. Why are indices important? 7. What kinds of indices exist?...

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SEBI imparting investor education in schools

Class 8 and 9 students at 26 schools all over the country are taking lessons in investor education these days, courtesy the capital market regulator. The optional three-month course teaches these students the importance of money, how to manage it and concepts of budgeting and saving....

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Issue of FCCBs and Ordinary shares (through Depository Receipt Mechanism) scheme, 1993 amended

(15/02/2010)

A scheme for issue of Foreign Currency Convertible Bonds and Ordinary shares (through Depository Receipts Mechanism) was notified in 1993 to allow the Indian Corporate sector to access global capital markets through issue of Foreign currency Convertible Bonds (FCCBs) / Equity Shares under the Global Depository Receipt Mechanism (GDR) and...

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Posted Under: SEBI |

Sebi announced valuation norms for Mutual Funds

In a move to bring in standardised practices in the mutual fund industry, especially in the debt market segment, Securities & Exchange Board of India (Sebi) on Tuesday asked mutual funds to value all money market and debt securities with residual maturity of up to 91 days at the weighted average price at which they are traded on the p...

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PAN mandatory for transferring shares to heir

The market regulator Sebi today said Permanent Account Number (PAN) is mandatory for transfer of shares to the heir in case the deceased shareholder was the sole owner of shares. "It is hereby clarified that it shall be mandatory to furnish a copy of PAN (on) transmission of shares to the legal heir(s), where the deceased shareholder was ...

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