Hundi Collection On Hold, Union Ministry Issues Order To TTD
With its registration under the FCRA (Foreign Contribution Regulation Act) under “suspension” for the past three years, the country’s richest religious Trust, the Tirumala Tirupati Devasthanam (TTD), faces an unprecedented situation. The Union Ministry FRCA wrote to the TTD, asking them to not make any foreign contributions, described as 'Hundi' donations.
Tags: TTD, Hundi Donations, SEBI, union ministry, Notice Issued
Courtesy: The Indian Express
Adani Groups Speak About Independent Audit Hiring News, Says Its Market Rumour
The Adani Group finally spoke about the news of hiring a US Firm for independent audit, amid Hindenburg claims.On February 16, company said, "We would like to clarify the said news item appears to be a market rumour and hence it would be inappropriate on our part to comment on it… We wish to confirm we have made and will continue to make disclosures in compliance with obligations under SEBI
Tags: Adani Groups, Hindenburg Report, Independent Audit, TAXES, SEBI
Courtesy: Hindustan Times
SEBI Hikes Interest Rates, EMIs, Loans To Be Expensive
The country's largest public sector lender, the State Bank of India (SEBI) has increased the repo & reverse repo rate, making loans expensive for customers. The loan rate with a hike of 50 basis point, after the announcement of the RBI's new repo rate by 0.5% to take it to 5.90%, which came into effect from October 1, making EMIs to get costlier across all loan categories, including home loans.
Tags: SEBI, business, Expensive Loan, RBI, interest rate
SEBI Imposes Fine Of Rs 3 Lakh On BSE Amid Irregularities
The market regulator Securities and Exchange Board of India (SEBI) has imposed a fine of Rs 3 lakh on BSE for engaging in activities unrelated to a stock exchange. “This is to inform that pursuant to Regulation 30 read with Schedule Ill of SEBI Regulations, 2015, we intimate that SEBI has passed an order, imposing a penalty of Rs. 3 lakhs on BSE Limited." said SEBI in a statement.
Tags: SEBI, BSE, penalty, Irregularities, Indian government
Courtesy: Business Today
Centre Tweaks FEMA To Permit 20% FDI In LIC
The Central Government has tweaked the Foreign Exchange Management Act (FEMA) rules to allow as much as 20% foreign direct investment (FDI) in the LIC. The government is mulling over plans to dilute its stake in the insurance company via the Initial Public Offering (IPO). Earlier in February this year, the LIC had filed the Draft Red Herring Prospectus (DRHP) before the Sebi for the Initial Public Offering.
Tags: Economy, LIC, IPO, SEBI, business
Courtesy: Zee News
SEBI Provides Market Approval For IPO To LIC India
Life Insurance Corporation Of India (LIC) finally gets their Initial Public Offer (IPO) approval from the Securities and Exchange Board of India (SEBI). This is fastest market approval given for IPO, in just 22 days, after the filing of the IPO draft by LIC. With this, LIC is going to put forward 31.62 crore equity shares under offer for sale (OFS) holding 5% of LIC equity shares.
Tags: LIC, Market regulator, SEBI, Life insurance, Life Insurance Corporation
Ex NSE MD Chitra Ramakrishna Questioned By CBI Over NSE Controversy
The CBI issued look out notice to Chitra Ramakrishna, ex chairman of National Stock Exchange (NSE), on February 18. Later, she was questioned by CBI over allegations of sharing internal information of NSE with her spiritual guru, with whom she is traveling to Himalayas. The investigation came after the recent SEBI orders alleging government lapses in the appointment of Anand Subramanian as the chief strategic advisor of the NSE.
Tags: SEBI, Chitra Ramakrishna, NATIONAL STOCK EXCHANGE, Mumbai, CBI
Courtesy: Live Mint
Life Insurance Corporation To Soon Open Largest IPO In India; Get Details Here
Indian government's Life Insurance Corporation (LIC) will sell 5% of its stake in 316.25 million shares, in the initial public offering. In addition, The company could become India’s most valuable listed company after listing on the stock exchanges. Also, policyholders and employees may get a discount compared to the price offered to the public. Notably, LIC possesses a total equity base of 6.32 billion shares.
Tags: business, India, LIC, SEBI, IPO
Courtesy: The Indian Express
Govt Likely To Defer LIC's IPO For Next Financial Year
The government may defer the announcement of Life Insurance Corporation's (LIC) initial public offering (IPO) in the current financial year ending March 2022. Reportedly, there are lots of preparatory work pending and the valuation of the state-owned life insurer will also take more time. Following the valuation, regulatory processes will start so it is unlikely that the IPO will take before the year ends, reported Business Today… read-more
Tags: LIC, IPO, FY22, SEBI, IRDAI
Courtesy: Business Today
NYKAA 'IPO' Fully Subscribed Within An Hour Of Opening
The Initial Public offering (IPO) of Nykaa, with a price band of 1,085-1,125 rupees per share has been open for public subscription on October 28. As per reports, on day one of its bidding, Nyka IPO has been totally booked within an hour, with a subscription of 0.19 times, and the retail portion booked with 1.02 times. The shares of the company issued is worth Rs 630 crores.
Tags: Nykaa, IPOs, India, SEBI, Indian Stock Market