SEBI------TO PREVENT RECURRENCE OF SCAMS IN INDIAN CAPITAL MARKET, THE GOVT OF INDIA HAS ASSIGNED REGULATORY POWERS
Disinvestment of 10% stake in HAL, approved by govt
The Cabinet Committee on Economic Affairs (CCEA) has approved divestment of 10 per cent
equity in HAL out of its holding on 100 per cent through an Initial Public Offer (IPO) in the domestic market as per the SEBI rules and regulations.- The disinvestment was been mooted before the CCEA amid government’s plans to modernize the company for which Rs 20,000 crore would be required over next five years
Recently, what fraction of centre's equity in Hindustan Aeronautics Limited (HAL)
is allowed for disinvestment by the Cabinet Committee on Economic Affairs (CCEA)
?
[A]7.5 per cent
[B]10 per cent
[C]12.5 per cent
[D]15 per cent
7.5 per cent
The Cabinet Committee on Economic Affairs (CCEA) has approved divestment of
10 per cent equity in HAL out of its holding on 100 per cent through an Initial Public
Offer (IPO) in the domestic market as per the SEBI rules and regulations.
SEBI
India
The list maintained by the Securities
and Exchange Board of India (SEBI)
is not current as of 2010.[1][2]
§ Bombay Stock Exchange (BSE)
§ National
Stock Exchange of India (NSE)
§ Indian Commodity Exchange (ICEX)
§ United Stock
Exchange of India (USE)
§ Multi Commodity
Exchange (MCX)
§ MCX Stock Exchange (MCX-SX)
§ Over the Counter
Exchange of India (OTCEI)
§ Madras Stock Exchange (MSE)
§ Ahmedabad Stock
Exchange (ASE)
§ Bhubaneshwar
Stock Exchange (BhSE)
§ Cochin Stock Exchange (CSE)
§ Hyderabad Stock
Exchange (HSE)
§ Calcutta
Stock Exchange (CSE)
§ Delhi
Stock Exchange (DSE)
§ Madhya
Pradesh Stock Exchange, Indore
§ Jaipur Stock Exchange (JSE)
§ Magadh Stock Exchange,
Patna
§ UP Stock Exchange (UPSE)
§ Vadodara Stock
Exchange,Vadodara (VSE)
Commodity Exchange
§ National
Commodity & Derivatives Exchange Limited (NCDEX)
§ Indian
National Multi-Commodity Exchange (NMCE)
§ Commodity
Exchange Limited ICEX
The BSE Sensex currently consists of the
following 30 major Indian companies as of 17 February 2012.[1]
#
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Company
|
Industry
|
Scrip
|
1
|
Consumer finance
|
||
2
|
Pharmaceuticals
|
||
3
|
Electrical equipments
|
||
4
|
Banking
|
||
5
|
Banking
|
||
6
|
Automotive
|
||
7
|
Information Technology
|
||
8
|
Oil and gas
|
||
9
|
Oil and gas
|
||
10
|
Power
|
||
11
|
Metals and Mining
|
||
12
|
Steel
|
||
13
|
Conglomerate
|
||
14
|
Automotive
|
||
15
|
Automotive
|
||
16
|
Consumer goods
|
||
17
|
Conglomerate
|
||
18
|
Metals and Mining
|
||
19
|
Information Technology
|
||
20
|
Pharmaceuticals
|
||
21
|
Oil and gas
|
||
22
|
Banking
|
||
23
|
Steel and power
|
||
24
|
Telecommunication
|
||
25
|
Automotive
|
||
26
|
Information Technology
|
||
27
|
Power
|
||
28
|
Real estate
|
||
29
|
Automotive
|
||
30
|
Metals and Mining
|
Sensex 30
companies
Nifty 50
companies
Cabinet approves 9.5% divestment in NTPC
• The Cabinet Committee on Economic Affairs (CCEA) has approved sale of 9.5% out of its holding of 84.5%
through the ‘offer for sale’ route.
• The Centre’s holding will come down to 75% in adherence to the minimum public shareholding norms
stipulated by market regulator SEBI.
Market regulator SEBI fine-tunes norms for OFS, IPP
Working in the direction of making the process of disinvestment hassle free, capital market regulator SEBI fine-tuned norms governing Offer For Sale (OFS) &Institutional Placement Programme (IPP).
IPP and OFS are the two new share sale tools initiated by the regulator in January, 2012 primarily to assist the corporate enhance their public float.
According to SEBI:
· The mandatory 12-week time gap requirement b/w two consecutive Offer for Sale (OFS) or Institutional Placement
Programme (IPP) will be relaxed. However, promoters who have already offloaded their shares through OFS or IPP will
have to maintain a gap of 2 weeks b/w two successive OFS or IPP. The decrease in the time gap will facilitate
companies to offload shares in more than one tranches depending on market conditions.
· The indicative price should be displayed during the last 60 minutes of the close of bidding session irrespective of the
book being built. However, as per the current norms, bids were invited without revealing indicative price during the
trading hour. The disclosure of indicative price could also lead to bidding taking place at the last one hour of trade.
· After these changes in the norms, modification or cancellation of bids can be done in the last 60 minutes instead of
last 30 minutes of the trade.
· The minimum size of the offer should be Rs 25 crore. However, the size of offer can be less than Rs 25 crore so as to
accomplish minimum public shareholding in a single tranche. Such alterations have been made to enable the
companies achieve the minimum 25% public holding guideline by June 2013.By June 2013, all listed companies are
required to have at least 25% public holding, while in case of state-owned company the limit is 10% to be achieved by
August 2013.
· Around12-13 PSU companies which have to meet the public holding guidelines can gain from the alterations in
norms.
· Institutional investors will have the choice of applying with 100% upfront margin in cash or with an ad hoc margin of
certain lower percentage to be determined by the exchanges.
The government will be able to promptly offload its stake in PSUs and generate funds for reaching the disinvestment
target of Rs 30,000 crore for the fiscal 2012-13. ONGC, Wipro, Godrej Properties and DB Corp are some major
companies to have conducted share sales through these two new routes
TO PREVENT RECURRENCE OF SCAMS IN INDIAN CAPITAL MARKET , THE GOVERNMENT OF INDIA HAS ASSIGNED REGULATORY POWERS TO SEBI
SEBI BARRED POLARIS FROM MARKET ACTIVITIES FOR INSIDER TRADING ACTIVITIES DATED 2000 FOR TWO YEARS
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