Capital market regulator Securities and Exchange Board of India (Sebi) on Thursday announced a slew of measures to boost equity issuances by India Inc and help rejuvenate the primary market, which at present seems to be in deep slumber.

The Securities and Exchange Board of India (Sebi) would discuss and announce various reforms to revamp India's capital markets, including revision in initial public offerings (IPOs) and offer for sale (OFS) framework at its board meeting in New Delhi on Thursday.

The regulator intends to rectify anomalies and bring more flexibility pertaining to the minimum issue size in IPOs, which many companies have been exploiting. At present, all companies with a post-issue capital of below R4,000 crore are required to offer at least 25% stake in an IPO, while companies with above R4,000 crore post-issue capital are required to offer at least 10%. However, it created anomalies in borderline cases and companies slightly below the R4,000-crore mark showed valuation of the company as R4,000-crore plus.

The Securities and Exchange Board of India (Sebi) issued a consultation paper on Tuesday on proposed regulations for crowdfunding, the term for collecting small amounts of capital from a large number of investors through social networks or other web-based platforms.

Sebi wants reactions by July 16. It has proposed that crowdfunding only take place through Sebi-recognised platforms. Entities which qualify include stock exchanges, depositories, technology incubators and associations of private equity or angel investors.

Market regulator Securities and Exchange Board of India (Sebi) has tightened norms governing debt public offerings.

Bringing in some elements of initial public offering (IPO) guidelines, the regulator has prescribed minimum subscription limit of 75 per cent for public issue of debt securities. Failing to garner minimum subscription of 75 per cent of the base issue size, the issuer will have to refund application money to investors within 12 days of issue closing.

The high court here has issued notices to the Union government on a public interest suit seeking to strike down the re-promulgated ordinance giving extra powers to the Securities and Exchange Board of India (Sebi) to crack down on illicit money collection schemes.

A city-based lawyer, Prashaanth Balasubramaniam, has contended the ordinance’s provisions are “utter violation of constitutional principles”.

Enthused by robust response to OFS mechanism of selling shares by companies, market regulator Sebi plans to provide discount for retail investors in such share sales and allow a larger set of firms to tap this route.

Besides, Sebi is considering at least 10 per cent of the shares to be sold through the OFS mechanism to be revered for retail investors, while non-promoters may also be permitted to tap the route, officials said.

The Securities and Exchange Board of India (Sebi) has written to the Reserve Bank of India (RBI) to explore the possibility of mutual fund schemes being granted an ongoing window to meet liquidity needs.

Such windows have previously been made available to mutual funds during times when the industry has faced a severe cash crunch. The stock market regulator has invited the central bank's feedback on whether such a repo window can be used to provide stability on an ongoing basis in addition to in times of such crises.

Unearthing a major case of insider trading in the shares of L&T Finance Holdings (LTFH), the Securities & Exchange Board of India (Sebi) on Thursday barred Factorial Master Fund, a Cayman Islands-based hedge fund, from the Indian securities markets. The role of other entities, including some employees of investment banking major Credit Suisse, is also under the regulator's scanner.

PUBLIC shareholding norms for public sector companies would be brought on a par with their private sector peers, said Sebi chairman UK Sinha, which would unlock sizeable funds for the government with estimates suggesting the cache could be in the order of Rs 50,000 crore.

The Securities and Exchange Board of India (Sebi) is likely to announce a series of changes to the initial public offering (IPO) framework, to help issuers and boost investor participation. Among the changes planned are removal of the Rs 4,000-crore minimum size criterion and an enhanced quota for the so-called anchor investors.

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