Stock exchanges have intensified scrutiny on Small and Medium Enterprise (SME) listings by mandating more comprehensive financial disclosures and enhanced monitoring of utilisation of issue proceeds from investment bankers, amid rising instances of dubious practices.
Bourses-responsible for vetting initial public offering (IPO) documents and granting approvals to SMEs - have tightened norms in recent weeks with further measures planned for new filings to safeguard investor interests, sources said.
A step in this direction was to pull the plug on the listing of Trafiksol ITS Technologies, whose IPO had garnered over 300 times subscriptions and bids worth over ₹10,000 crore, following concerns surrounding its disclosures and plans to utilise the issue proceeds. An email sent to the company seeking the specific queries raised by the exchange or market regulator remained unanswered till the time of going to the press.
Esta historia es de la edición September 19, 2024 de Business Standard.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición September 19, 2024 de Business Standard.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
Low valuation sparks interest in IndusInd
Analysts believe worst may be over for lender after sombre Q2 results
Demand, margin gains ahead for UPL
Agrochemicals manufacturer UPL reported a muted quarter as operating profit remained flat on a year-on-year (Y-o-Y) basis, due to a price decline (down 7 percent Y-o-Y) and surplus capacity in China.
Exchanges roll back direct payout of securities to client accounts
The National Stock Exchange (NSE) and BSE on Tuesday announced rollback of the direct payout of the securities to client demat accounts—which was enabled on November 11.
Swiggy makes market debut today
Shares of food delivery major Swiggy will make stock market debut on Wednesday following its ₹11,327 crore initial public offering (IPO), second biggest this year and sixth-largest to hit the domestic market.
NTPC Green Energy IPO eyes $12 bn Valuation
NTPC Green Energy Ltd is considering seeking a valuation of about $12 billion in what could be one of India's biggest initial public offerings (IPO) in the renewable energy industry, according to people familiar with the matter.
Sebi simplifies process for registration of certain FPIs
Abridged version of application form to be available in 3 months
11 of 17 Nifty sector indices in correction mode
As many as 11 of 17 frontline Nifty sector indices are in 'correction' mode with energy, auto and central public sector enterprises (CPSE), consumption, and fast-moving consumer goods (FMCG) suffering the most in the recent market fall, according to data.
Nifty falls to near 5-month low
Earnings disappointment and foreign outflows continue to weigh on markets
BITING THE BULLET
The Bullet Train has been a 'dream project'. Can it become a reality anytime soon?
India to be among top 3 or 4 mkts for Siemens in 3 years
Country now contributes 3.5-4% to the firm's revenue
