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SEBI Chairman says capital markets are a major engine of financial inclusion

SEBI Chairman says capital markets are a major engine of financial inclusion

Tuhin Kanta Pandey, Chairman of Securities and Exchange Board of India or SEBI, has deliberated how capital markets are powering long-term investments, innovation, and infrastructure development. With Rs 93 lakh crore raised over the last decade and 13 crore unique retail investors, capital markets are a major engine of financial inclusion. He also spotlighted the rapid growth of AIFs, REITs/InvITs, and PMS, and the rising global confidence in India's economy. He made these remarks in a speech made at the 16th Capital Market Conference, organized by ASSOCHAM. Pandey further outlined SEBI's key initiatives to deepen markets and strengthen investor protection, including reforms in IPO listing timelines, the introduction of Flexi-cap derivatives, and growth in municipal bonds and the corporate bond market. SEBI's tech-driven regulatory supervision is helping ensure market integrity while fostering innovation and accessibility.
He noted further that the government's commitment to building world-class infrastructure, improving ease of doing business and unleashing entrepreneurial energy has already begun to redefine the contours of our economy. Digital transformation, the emergence of AI, and the strengthening of digital public infrastructure are unlocking efficiencies and inclusion on an unprecedented scale. These developments, combined with strong macroeconomic fundamentals, policy stability, resilient financial market ecosystem are creating an enabling environment for sustained capital formation and productivity-led growth.

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Peak XV trims stake in Zinka Logistics in Rs 302 crore bulk deal; ADIA, MIT among buyers
Peak XV trims stake in Zinka Logistics in Rs 302 crore bulk deal; ADIA, MIT among buyers

Time of India

time26 minutes ago

  • Time of India

Peak XV trims stake in Zinka Logistics in Rs 302 crore bulk deal; ADIA, MIT among buyers

Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Bengaluru-based logistics tech company Zinka Logistics Solutions , popularly known as BlackBuck, witnessed a block deal on Tuesday. A group of marquee institutional investors picked up stakes, while existing investor Peak XV Partners pared down its holding. The total block deal value is around Rs 302 to data from the stock exchanges, nearly 59 lakh shares changed hands. Among the buyers were global institutional names such as Abu Dhabi Investment Authority (ADIA), ICICI Prudential Mutual Fund, and Massachusetts Institute of Technology (MIT).ADIA purchased 23,02,574 shares at a price of Rs 420 per share. ICICI Prudential Mutual Fund acquired 11,42,856 shares at the same price, while MIT picked up the largest chunk -- 24,65,945 shares -- at Rs 420 per the sell side, Peak XV Partners Investments VI offloaded 12,10,588 shares at a higher price of Rs 444.71 per share, likely booking gains on their earlier of the latest available data, promoters held 27.7% of Zinka, while the public held 72.3%. Foreign investors made up a large chunk of the public shareholding, with several high-profile names such as Tribe Capital, Sands Capital, Accel, and B Capital featuring on the largest public shareholder was Quickroutes International, holding over 9% stake. Among mutual funds, SBI Technology Opportunities Fund held 6.62%, while Bandhan Core Equity Fund and Invesco India Contra Fund held smaller Logistics is one of India's leading tech-driven logistics platforms specializing in full-truck load (FTL) freight. Founded in 2015, the company has transformed the traditional trucking ecosystem by digitizing operations for both fleet owners and its mobile and web-based solutions, Zinka connects truckers with businesses in real-time, offering seamless booking, GPS-based tracking, digital payments, and documentation. The platform serves a wide range of industries including FMCG, manufacturing, and e-commerce, providing reliable long-haul transportation across company also assists truckers with services like fuel cards, insurance, and toll management, aiming to improve their efficiency and reduce idle time.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

MSEI investors uncertain about their bet after Sebi expiry day rule
MSEI investors uncertain about their bet after Sebi expiry day rule

Mint

time35 minutes ago

  • Mint

MSEI investors uncertain about their bet after Sebi expiry day rule

Broking firms and their founders who backed Metropolitan Stock Exchange of India (MSEI) are uncertain about the fate of their investments after the market regulator limited the weekly expiry of index options to two days, according to executives at two of the four companies. However, these investors have no immediate plan to divest their stakes in MSEI, the executives said on the condition of anonymity. Groww's parent Billionbrains Garage Ventures Pvt; Rainmatter Investments, backed by the Kamath brothers of Zerodha; Share India Securities Ltd; and Securocorp Securities India Pvt Ltd had purchased a combined 19.84% stake in the exchange for ₹238 crore on 24 December last year. The investments were made before Sebi's consultation paper of 27 March seeking public comments on its proposal to limit the weekly option expiry days. On 26 May, Sebi's circular–titled Final Settlement Day (Expiry Day) for Equity Derivatives Contracts–curtailed the expiries for hugely popular index options to Tuesday and Thursday every week. Read more: A loophole lets retail investors bid for some small-business IPOs The investors purchased the stake assuming that Sebi would let each exchange launch index options on one day of their choice every week, per a 1 October circular last year mandating a single expiry per exchange per week, among other things, the executives quoted earlier said. However, Sebi's circular last month mandating two days of expiry for multiple exchanges means that MSEI will be locked in a fight for market share with either BSE Ltd or the National Stock Exchange when Sebi approves a weekly expiry for the bourse. NSE had a three-month rolling market share of 80% in equity options (index plus stock options' premium turnover) as on 30 April, with BSE accounting for the rest, according to NSE data. 'The latest regulation on final expiry day will impact the MSEI plan to gain traction through the weekly expiry option, given the competition the bourse will face from the established exchanges as and when it gets regulatory approval for such a contract," said the first executive quoted earlier. 'This, in turn, will make the fate of our investment uncertain. But, we will not sell our stake because of this new rule as we typically invest for the long term. We will wait and see." 'We are staring at uncertainty over our investment in the exchange," said the second executive. 'When we invested, the idea was that we could have our tailored contracts traded on days there are no expiry from BSE or NSE to differentiate ourselves. But, if our contracts are forced to have expiry on the same day as any of the big exchanges, our derivative products will be a non-starter. It's kind of unfair for Sebi to leave us with little option." Queries emailed to the four investors and MSEI on their plans ahead went unanswered. A Sebi official, too, was unavailable for comment until press time. Renewal of recognition The problems of revival for MSEI come ahead of the exchange's renewal of its recognition by Sebi on 15 September this year. The exchange gets a renewal every year. Of the six Sebi-recognised exchanges, MSEI is the only one that hasn't received permanent recognition from the regulator. The ones permanently recognized by Sebi are NSE, BSE, NCDEX, MCX and the Calcutta Stock Exchange. Queries emailed to Sebi and MSEI on the reason for its annual renewal went unanswered. MSEI has Sebi permission to offer equity, equity derivatives, currency derivatives (including interest rate futures) and debt. Every exchange requires what's known as a segment approval from Sebi to offer products to investors and traders. Other shareholders of MSEI include 10 trading member banks, which held a combined 10.49% as of 31 March 2025. These include Union Bank of India, State Bank of India, Bank of Baroda, HDFC Bank and Axis Bank. Other well-known shareholders include commodity derivatives bourse MCX (5.53%) and co-founder of Enam Holdings Nemish Shah (1.62%). Read more: Only one in five derivative participants trades solely in F&O The bourse offers trading in currency futures, where it had a turnover of ₹2,260 crore against NSE's ₹74328 crore last month, according to Sebi data. There was no trading in equity, equity derivatives and interest derivatives. Shares of MSEI in the unlisted market soared from around ₹2 apiece prior to the stake purchase by the four investors in December to as much as ₹14 in the following weeks before cooling to around ₹8-8.50 currently, according to Narinder Wadhwa, co-founder of SKI Capital Services Ltd.

Elon Musk's Starlink to get licence to operate in India soon, says Jyotiraditya Scindia
Elon Musk's Starlink to get licence to operate in India soon, says Jyotiraditya Scindia

The Print

time36 minutes ago

  • The Print

Elon Musk's Starlink to get licence to operate in India soon, says Jyotiraditya Scindia

'Currently, two companies—OneWeb and Reliance—have received licences for satellite connectivity. The process for Starlink is also nearly complete. The LOI has been issued. And I believe it (Starlink) will get the licence soon,' Scindia said. In an exclusive interview with ThePrint on Tuesday, Scindia said that the Department of Telecommunications (DoT) earlier issued a Letter of Intent (LOI) to Starlink. The final approvals are pending from the Indian National Space Promotion and Authorisation Centre (IN-SPACe). New Delhi: Elon Musk's satellite internet venture, Starlink, is 'almost licensed' to operate in India, Union Minister of Communications and Minister for Development of North Eastern Region Jyotiraditya Scindia has said. 'The next step involves securing approval from IN-SPACe. All three licence holders must undergo this process before beginning operations,' he added. 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Also Read: Airtel and Jio are welcoming Starlink to India. Is it a bid to get on Trump's good side? BharatNet 2.0: Expanding ground connectivity Scindia said the Modi government's Rs 1.39 lakh crore BharatNet 2.0 programme, which aimed to connect 2.5 lakh village panchayats and an additional 3.8 lakh villages on demand, would complement the space-based rollout. Key upgrades in the new phase include a shift from a linear to a ring topology, network downtime, and ensuring service redundancy. The project includes a 10-year OPEX (operating expenses) component alongside capital expenditure to ensure long-term sustainability. 'We have moved away from just CAPEX-focused design. Under the ring topology, even if one connection fails, the network reroutes itself. And with OPEX, maintenance becomes the service provider's responsibility,' he explained. 'BharatNet will now connect not just rural India to the nation but also to the world.' Operation Sindoor & national security On matters of national security, Scindia referenced recent military actions in Jammu and Kashmir under Operation Sindoor, asserting the prerogative to give a firm response to threats. 'Those who thought of wiping off the 'sindoor' of our sisters and mothers have been, themselves, wiped out,' he said, underscoring the assertive posture taken by the Modi government. India, he further said, had never believed in initiating conflict. 'But if innocent citizens are targets, the response to a brick will be with a stone,' he stated. Also Read: Musk's 'small man' spat with Polish minister bares widening US-Europe rift over Russia-Ukraine war Shashi Tharoor & 'India First' Doctrine Asked about the criticism of MP Shashi Tharoor within the Congress for his participation in an all-party delegation representing India abroad, Scindia said everyone should view the role of the delegation through the lens of national unity. 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