Sebi eases preferential allotment guidelines, plans dispute decision rejig

markets regulator Sebi is inspecting introducting an alternate dispute decision mechanism, with an goal to supply an effictive system for settling disputes between buyers and controlled entities, a launch mentioned on Monday.
The Securities and Exchange Board of India (Sebi), in November final, printed the ‘Investor Charter’ for securities markets to additional strengthen its efforts to guard investor pursuits, promote transparency in markets and improve consciousness, belief and confidence amongst buyers.
The regulator has additionally relaxed pricing norms and lock-in necessities to make it simpler for firms to lift funds by means of preferential allotment of shares. It has allowed pledging of shares allotted to promoter or promoter group beneath preferential situation throughout the lock-in interval, based on a notification.
In addition, Sebi has mentioned any preferential situation leading to a change in management or allotment of greater than a 5 per cent stake would require a valuation report from a registered valuer.
Further, Sebi has minimize the timeline for submitting settlement purposes to simply 60 days from the present 180 days in its effort to make the system extra environment friendly.
In one other notification, Sebi has put a cap on the utilization of preliminary public officer (IPO) proceeds for unidentified future acquisitions and restricted the variety of shares that may be provided by vital shareholders. —WITH PTI
Govt will get Rs 6,651 cr dividend
New Delhi: The authorities has acquired greater than Rs 6,600 crore as dividend tranches from a dozen central public sector enterprises (CPSEs), a senior official mentioned.
In a tweet on Monday, Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey mentioned, “Government has received about Rs 972 crore and Rs 2506 crore from Nuclear Power Corporation of India Limited (NPCIL) and Power Grid Corporation of India Limited as Dividend tranches.”
Hindustan Aeronautics, Bharat Electronics, HLL Lifecare Ltd, FAGMIL and NSIC have given Rs 351 crore, Rs 149 crore, Rs 19 crore, Rs 12 crore and Rs 31 crore as dividend tranches, respectively, he added. “Government has received about Rs 1605 crore and Rs 913 crore from NMDC and GAIL respectively as Dividend tranches,” he mentioned in one other tweet.
About Rs 42 crore, Rs 26 crore and Rs 25 crore had been acquired from Central Warehousing Corporation, National Highways Infrastructure Development Corporation and WAPCOS, the DIPAM Secretary additional tweeted.
In mixture, the federal government acquired Rs 6,651 crore as dividend on Monday from these 12 firms. With this, complete proceeds from dividend from public sector enterprises reached near Rs 40,000 crore for monetary yr 2021-22 up to now. —WITH PTI