IndusInd Bank promoters conclude fundraise through rights issue
Funds from this disinvestment and rights issue will be remitted on or before February 18, 2021, as allowed by SEBI, the IndusInd Bank said
BusinessToday.In | February 17, 2021 | Updated 12:47 IST
The promoters stake would touch 15 per cent once they infuse additional capital into IndusInd Bank
IndusInd International Holdings Ltd (IIHL), the promoter company of IndusInd Bank, has concluded fundraise process through a rights issue, which was oversubscribed.
The company raised the capital at an overwhelming premium of 1,400 per cent the subscription of this rights issue, the bank said in a statement to the stock exchanges.
SEBI board eases public offer norms, paves way for LIC IPO
These reforms come a little over a fortnight after Finance Minister Nirmala Sitharaman introduced amendments to relevant legislation during the Budget session to float LIC IPO on markets
BusinessToday.In | February 17, 2021 | Updated 23:44 IST
In its meeting on Wednesday, Securities and Exchange Board of India (SEBI) has relaxed public issue norms for large companies, among other measures. The step is crucial for initial public offering (IPO) of Life Insurance Corporation of India (LIC), which otherwise would have faced problems with its debut on the equity market.
The market regulator has amended Securities Contracts (Regulation) Rules (SCRR), 1957, which reduces minimum public offer (MPO) requirement for companies with post-issue market capital exceeding Rs 1 lakh crore from 10 per cent of post-issue market capital (existing provision) to Rs 10,000 crore, plus 5 per cent of the incremental amount beyond Rs 1 lakh cr
Finance Minister Nirmala Sitharaman on Wednesday appreciated the measures taken by Sebi, especially to deal with the COVID situation, and emphasised the need for timely implementation of announcements related to the capital market made in the Union Budget 2021-22. The minister addressed the board of Sebi in the national capital on Wednesday for the first time after the presentation of the Budget on February 1.
Sebi Chairman Ajay Tyagi made a presentation on current market trends and challenges, measures taken in the wake of the pandemic, capital raising during this financial year and implementation road map for Sebi-related budget announcements, and corporate bond market development, the regulator said in a release.
Insider Trading: SAT stays SEBI s order barring Future Group s Kishore Biyani from markets
The tribunal has however directed Future Group’s promoters to deposit Rs 11 crore as an “interim measure.” The case to be heard next on April 12, 2021.
File image: Future Group Chairman Kishore Biyani
The Securities Appellate Tribunal (SAT) has stayed “effective operation” of the Securities and Exchange Board of India’s (SEBI) order accusing Kishore Biyani of Future Group from insider trading charges for purchases of Future Retail shares made in March 2017.
The tribunal has however directed Future Group’s promoters to deposit Rs 11 crore as an “interim measure.” The case to be heard next on April 12, 2021.