SEBI approves IPs of four companies, decision taken in board meeting

New Delhi| The board meeting was held for the first time after the Securities and Exchange Board of India (SEBI) filed allegations against SEBI Chairman Madhavi Puri Butch on behalf of Hindenburg Research, complaints and allegations by employees. According to the information given on SEBI website, in the board meeting, SEBI has given approval to huge Mega Mart, ACME Solar Holdings, Mamta Machinery to launch IPO.

Three companies-Supermart major Vishal Mega Mart, renewable energy firm ACME Solar Holdings and packaging equipment maker Mamata Machinery-have received SEBI approval to raise funds through an initial public offering (IPO), an update with the regulator on Monday revealed. On the other hand, the regulator has returned the draft offer document of manpower services company Innovision, whose proposed IPO was a mix of fresh issuance of shares worth Rs 315 crore and an offer for sale (OFS) of up to 11.81 lakh shares.

The Securities and Exchange Board of India (SEBI) last week gave green signal to several major initial public offerings (IPOs), paving the way for the launch of a large number of IPOs during the ongoing festival season. Hyundai Motor India, which will be the country’s largest IPO and valued at around Rs 25,000 crore, received a letter of inspection from the market regulator on September 24, according to information available on SEBI’s website.

Whereas SEBI has imposed a fine of Rs 12 lakh on NSE Data and Analytics Limited. This penalty has been imposed because the company could not keep its IT, its infrastructure and employees separate from the National Stock Exchange (NSE) by its flagship company and also SEBI has given the company 45 days to pay the fine.

The Securities and Exchange Board of India (SEBI) on Monday approved a proposal to introduce a new asset class for high-risk investors. This will reduce the flexibility gap between mutual funds and portfolio management services. In a statement issued after the board meeting, SEBI said its board has approved a proposal to relax the regulatory framework for passively managed mutual fund schemes to reduce compliance requirements.

In total, the Board has approved 17 proposals, including amendments to insider trading rules and the relaxation of eligibility criteria and compliance requirements for investment advisers and research analysts. This decision will give investors more flexibility and risk taking ability. The minimum investment requirement has been set at Rs 10 lakh, targeting investors investing between Rs 10-50 lakh.

This is the first board meeting after US-based short seller Hindenburg Research and the Congress party made allegations against SEBI chairperson Madhavi Puri Buch. Hindenburg accused Butch and her husband of investing in an offshore fund controlled by Vinod Adani, brother of Adani Group chairman Gautam Adani, which was allegedly used to raise round trip funds and stock prices.