A large number of listed firms, including top blue-chips, are facing heat of the stock market authorities for sudden surge in their share prices and trading volumes as also for ‘speculative’ information leaks leaving investors at large in the lurch.

In just about one and a half months since the beginning of this year, the stock exchanges have sought ‘clarifications’ from at least 19 Sensex blue chips including giants like Mahindra and Mahindra, Hindustan Unilever, SBI, Coal India, Wipro, Hero Motocorp, ICICI Bank, Cipla and L&T.

Capital market regulator Securities and Exchange Board of India (Sebi) has directed Navi Mumbai-based Shah Group Builders to return money collected from investors through issue of equity shares. The regulator also has barred the company and its directors Nalin V Shah, Nirav N Shah and Neelam N Shah from accessing the securities market or issuing any advertisement for soliciting money from public.

Officials at Securities and Exchange Board of India (Sebi), seeking redress for millions of investors it says were burnt in conglomerate Sahara’s illegal bond scheme, say the group might not wholly own some of the properties in India it listed as proof of its ability to repay the savers.

An official and a separate source with direct knowledge of the situation said Sebi had been checking an affidavit filed by Sahara detailing property assets, as time runs out for the group to post $1.6 billion in bail to free its jailed founder.

Continuing to build on its fund portfolio, Ahmedabad-based venture capital firm GVFL, a pioneer of Venture Capital, has launched its new MSME Fund titled 'Value Multiplier Fund'. At a size of Rs 600 crore, the fund, which aims to invest in MSMEs / startup companies across sectors in India, bagged SEBI approval recently.

The fund will be invested in young companies with scalable business model, large target market, high entry barrier / first mover advantage, and supported by sound management team. Mihir Joshi, President & CEO, informed that its Value Multiplier Fund has received approval from SEBI as Category I (SME Fund) under AIF Regulations.

Looking to increase fund flows from overseas investors, the Securities and Exchange Board of India (Sebi) on Thursday allowed Foreign Portfolio Investors (FPIs) to invest their coupons received on investments in government securities back into such bonds.

These investments would be allowed even after FPIs have fully utilised the applicable limits of $30 billion, Sebi said in a circular.

The government's move to relax regulations governing Offer for Sale (OFS) may hit a Sebi roadblock.

Sources close to the development indicate that Sebi may not be able to accept all the considerations for OFS mechanism while divesting stake in Public Sector Undertakings (PSU).

Capital markets regulator Sebi has sought clarification from the merchant banker of State Bank of Travancore on the firm's proposed Rs 485-crore rights issue.

Without disclosing the details, Sebi said "clarifications (are) awaited from lead manager" for the proposed rights issue.

As the prolonged Sebi-Sahara battle continues, the Securities and Exchange Board of India (Sebi) has revised lower the expenditure it intends to recover from the business group to Rs 25.88 crore in the current financial year towards money spent on identifying the investors and making refunds.

According to the court orders, Sahara was asked to bear the costs incurred by Sebi in identifying the investors and repayment of refunds to them, which has been an uphill task for the capital markets watchdog.

MUMBAI: Sebi on Thursday barred two companies, Chakra Infrastructure and Krutibibha Corp, as well as their directors from the securities market for illegally raising more than Rs 14 crore from investors.

In two separate orders, the Securities and Exchange Board of India (Sebi) has restrained these entities from the capital market and from soliciting funds from public till further directions.

The Securities and Exchange Board of India (Sebi) has sought clarification from the merchant banker of Zee Media Corp on the firm’s proposed Rs 200-crore rights issue.

Without disclosing the details, Sebi has said “clarifications (are) awaited from lead manager” for the proposed rights issue.

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