Sebi examining feasibility of corporate bond ETF: Ajay Tyagi
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Last Updated: Jul 23, 2021, 07:03 AM IST
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Synopsis
Investor flows into financial markets through ETFs has witnessed a gradual increase over the past few years. The proportion of ETF Assets Under Management (AUM) to total mutual fund AUM increased from 2% at end of FY16 to 9% at end of FY 21.
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Mumbai: The Securities and Exchange Board of India (Sebi) is planning to introduce corporate bond exchange traded fund (ETF) in an attempt to boost activity in the corporate bond market.
“Sebi is examining how to increase ETF liquidity on exchange platforms and the feasibility of introducing new ETF products,” said Sebi chief Ajay Tyagi while addressing a virtual event organised by NISM on capital markets. “Globally, ETFs have emerged as popular products and provide liquid exposure to investors on even relatively illiquid underlying assets.”
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Synopsis
The regulator has suggested that if the acquirer wants to delist, a differential pricing must be proposed. The open offer price for delisting should be higher than the minimum offer price. If the response from minority shareholders leads to the delisting threshold of 90% met, all shareholders who tender their shares must be paid the delisting price. In a letter separately to Sebi, investors said that the proposed changes will shift the ‘bargaining power’ from shareholders to promoters. They do not want any changes in the RRB process.
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Mumbai: Some individual investors have opposed the changes to delisting regulations proposed by the Securities and Exchange Board of India (Sebi) on the grounds that the modified rules would make not be in the interest of minority shareholders. The recommendations by the capital markets regulator, if cleared, allow an acquirer to launch an open offer and delisting offer simultaneously by proposing two different prices and dilutes t
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