Sebi
wants DPs to submit tariff structure every year
Mumbai: Depository participants (DPs) must submit
the tariff/charge structure every year, latest by April
30 to their depository in order to facilitate comparison
of DP tariff/charge structure for investors a Sebi circular
has said.
It also said that DPs will have to inform investors of
any changes in their tariff/charge structure as and when
they are affected.
The
regulator has asked depositories to put in place necessary
systems and procedures including formats, periodicity,
etc for collection of necessary data from the DPs and
its dissemination on their Web Site. This will enable
investors to have a comparative analysis of the tariff/charge
structure of various DPs.
Back to News Review index page
Reliance
Mutual fund buys stake in Air Deccan
Mumbai: Reliance Vision, a mutual fund scheme under
the Reliance Mutual fund umbrella has acquired a 3.5 pc
stake in Air Deccan. A Reliance capital spokesperson said
the stake has been acquired over the past few months purely
as a mutual fund play, one amongst many in the mutual
fund portfolio.
Commenting on the group's plan to take a strategic stake
in the airline, he said the company has no plans to enter
the aviation business. The average price of the acquisition
could not be ascertained. The Air Deccan share fell 10
pc to Rs 119 on the BSE.
Back
to News Review index page
SpiceJet
to raise $80mn thru 20 pc preferential issue
New Delhi: Low-cost airline SpiceJet has announced
raising about $ 80 million by issuing equity shares through
preferential allotment to domestic and foreign investors,
to fund its expansion programmes. The equity to be offered
would be about 20 per cent of the company's share capital.
The company has received investment proposals worth $
118 million from different investors, including the Tatas,
Texas Pacific Group Ventures, Istithmar PJSC and Goldman
Sachs.
Ajay Singh, director SpiceJet said, "Given the approval
from the board, Tata group is set to acquire 7.5 per cent
stake in the company. Tata's investment would be symbolic.
Apart from the financial aspect, we will ask it to participate
through its managerial experience and network."
The investment proposals include an offer of Tata Investment
Corporation at $ 1.2 million, Ewart Investments - an investment
company of the Tata group at $16 million, $ 30 million
from private equity fund, Texas Pacific group, $ 25 million
from Istithmar PJSC, $ 5 million from Goldman Sachs and
$ 7 million from IL& FS.
Back
to News Review index page
Transactions
of over Rs1 lakh in corporate bonds must be reported
Mumbai: Transactions in corporate bonds of value Rs
1 lakh and above, from January 1, have to be reported
on the corporate bond platform to be set up by BSE. Settlements
have to be reported within one trading day from completion
of trades.
The BSE should ensure operation of the corporate bond
reporting platform from 10 a.m. to 5.30 p.m. on all trading
days and access shall be given to all market intermediaries
for reporting, the SEBI circular said.
The regulator has also asked BSE to flash data, reported
on its platform, on its Web site on a real-time basis.
SEBI has made it mandatory for issuers to disclose all
material information such as rating obtained on the instruments
as and when they take place. Issuers have also been told
to record details like date of the transaction, put/call
option dates and units exercised under put/call option.
Back
to News Review index page
Two
India focused funds to be launched in US
Mumbai: Two India-focused funds will be launched in
the US market this month. These include an 'exchange traded
fund' to be launched by global financial services major
Barclays Plc. This fund would track an index of the largest
Indian companies listed on the National Stock Exchange.
Another ETF major Amvescap Plc is planning a fund that
would track a mix of the US and Indian stocks.
According to a regulatory filing made by Barclays, its
proposed Indian ETN would follow the 68-share MSCI Indian
Total Return index, whose top holdings include Infosys,
Reliance Industries (RIL) and ICICI Bank.
Back
to News Review index page
|