Latest news with #Aspero
Economic Times
27-04-2025
- Business
- Economic Times
Exclusive: BluSmart crisis likely to draw Sebi heat on unlisted bond market
The unlisted bond distribution market is likely to come under scrutiny of the Securities and Exchange Board of India in the wake of the crisis at all-electric cab hailing startup BluSmart Mobility, said industry insiders. BluSmart sold more than Rs 100 crore of unlisted, unsecured corporate bonds to high-net-worth individuals as well as some retail investors in the past one year, mostly facilitated by fintech platforms like Yubi, Centricity and Klub. Sebi is not in favour of allowing retail investors to have exposure to such products which are typically high risk. The markets regulator in November 2024 had asked AltGraaf, Tap Invest and Stable Investments to stop selling any unlisted bonds and NCDs (non-convertible debentures) on their executives said the regulator may now look deeper into these products and how they are sold to figure out if there are mis-selling. The regulatory action could vary from fresh guidelines for everyone to follow to imposing major fines on these platforms, they said.'This BluSmart incident will have a larger impact on the bond distribution industry because Sebi is against wide distribution of unlisted bonds. I think they will take more strict action against platforms selling such products,' said the founder of an online bond distribution platform. Also Read: BluSmart crisis: Green mobility's red flag is giving HNIs bond blues Sebi issued OBPP (Online Bond Platform Provider) regulations in November 2022 to regulate startups selling fixed income instruments like corporate bonds to retail Wealth, Aspero, Jiraaf and Grip Invest are some of the regulated OBPPs in the country. They typically sell listed bonds which offer a rate of interest higher than fixed deposits, in the range of 9% to 13%, depending on the size of the issue and the company issuing. Industry estimates suggest that the regulated space operates on a monthly volume of around Rs 500 firms are prohibited from dealing in unlisted securities. But beyond these regulated platforms, there are many online entities which sell unlisted stocks as well as unlisted sells unlisted bonds through its own platform but runs Aspero, as a separate business, for its OBPP compliant operations.'Scrutiny is bound to go up; the regulator will seek details around which platform is selling what, are platforms selling unlisted bonds through offline channels,' said another founder of an online bond distribution platform. 'Those who were abiding by the rules should be okay, scrutiny will only clean up this space.'Wealthtech firms have two things going for them; one is growing affluence in the country which has created a population with disposable income for risky investments and second the IPO market which has shown some very exciting returns in the last few years. Both factors have driven investor interest in unlisted shares and unlisted corporate debt, especially in companies which can go for an IPO. Digital platforms are tapping on this growing interest to expand their this enthusiasm is also opening up opportunities for mis-selling. In the wake of the discovery that the electric cars that BluSmart was operating were actually bought by Gensol Engineering and hypothecated to public sector enterprises Power Finance Corporation and IREDA (Indian Renewable Energy Development Authority), investors who bought these NCDs believe there was a major lapse in due diligence by some of these platforms that sold the debt to them. 'Some of these platforms sold these instruments without keeping any hypothecation on the vehicles. The underlying security against these loans was future cash flow. Now that business has stopped on the platform, how will the cash flow get impacted and how will repayments happen is the major question,' said an investor who has exposure to BluSmart's NCDs. This comes at a time when Sebi has been planning to limit the exposure of retail investors in all forms of securitised debt instruments (SDIs). The regulator in the minutes of its board meeting held on December 18, 2024 discussed bringing in a minimum investment of Rs 1 crore in SDIs by regulated entities as well as unregulated entities. It also wants to bring in a limit of 200 on the maximum number of people who can subscribe to a privately placed SDI. 'These steps will anyway curb the retail participation in this market. Now with such instances taking place in the unlisted bonds space the regulator might come up with more restrictions to ensure retail participation is further limited,' said the founder of an online bond distribution platform. Also Read: BluSmart bond holders may invoke immediate repayment provisions
Economic Times
24-04-2025
- Business
- Economic Times
Market Wrap: D-Street snaps 7-day rally as geopolitical tensions drag; Sensex sheds 315 pts, Nifty below 24,300
Synopsis Indian benchmark indices ended lower on Thursday, halting a seven-session rally, as financials led the retreat on profit booking, while geopolitical tensions escalated following India's strong diplomatic response against Pakistan in response to a deadly terror attack in Jammu and Kashmir that left 26 dead. Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? SEBI warns of securities market frauds via YouTube, Facebook, X and more SEBI warns of securities market frauds via YouTube, Facebook, X and more API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders Security, transparency, and innovation: What sets Pi42 apart in crypto trading Security, transparency, and innovation: What sets Pi42 apart in crypto trading Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains How Pi42 is simplifying crypto trading: CTO Satish Mishra on integrating technical & fundamental insights How Pi42 is simplifying crypto trading: CTO Satish Mishra on integrating technical & fundamental insights Aspero's Irfan Mohammed on why India's bond market is ready for its 'equity moment' Aspero's Irfan Mohammed on why India's bond market is ready for its 'equity moment' 'Voler is debt-free and profitable; Investors' money is our responsibility': Vikas Parasrampuria on recent listing, plans & more 'Voler is debt-free and profitable; Investors' money is our responsibility': Vikas Parasrampuria on recent listing, plans & more Divine Hira IPO: Scaling New Heights in Jewellery Trade – Niraj Gulecha on Expansion, Strategy & Growth NEXT STORY Business News › Markets › Stocks › News › Market Wrap: D-Street snaps 7-day rally as geopolitical tensions drag; Sensex sheds 315 pts, Nifty below 24,300
Economic Times
23-04-2025
- Business
- Economic Times
Stock market update: Nifty Realty index advances 1.33%
Mazhar Mohammad of said technical indicators are turning mixed as the weekly MACD chart has generated a 'buy' signal, giving an edge to the bulls. Synopsis The Nifty Realty index closed 1.33 per cent up at 896.75. NEW DELHI: The Nifty Realty index closed on a positive note on Wednesday. ADVERTISEMENT Shares of Macrotech Developers Ltd.(up 4.04 per cent), Godrej Properties Ltd.(up 2.74 per cent), Sobha Ltd.(up 2.07 per cent), Prestige Estates Projects Ltd.(up 1.53 per cent) and Brigade Enterprises Ltd.(up 1.45 per cent) ended the day as top gainers in the pack. On the other hand, Raymond Ltd.(down 1.68 per cent) and Phoenix Mills Ltd.(down 0.5 per cent) finished as the top losers of the day. The Nifty Realty index closed 1.33 per cent up at 896.75. Benchmark NSE Nifty50 index ended up 161.71 points at 24328.95, while the BSE Sensex stood up 520.9 points at 80116.49. Among the 50 stocks in the Nifty index, 39 ended in the green, while 11 closed in the red. ADVERTISEMENT Shares of Vodafone Idea, Suzlon Energy, YES Bank, IDFC First Bank and Ola Electric Mobilit were among the most traded shares on the NSE. Shares of Country Condos, Choice Intnl, Rama Phosphates, Cura Tech and Paradeep Phosphates hit their fresh 52-week highs in today's trade, while AGS Transact Tech, Gensol Engg, Dhanvarsha Finvest, Punjab Alkalies and BDR Buildcon hit their fresh 52-week lows. ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel) Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? SEBI warns of securities market frauds via YouTube, Facebook, X and more SEBI warns of securities market frauds via YouTube, Facebook, X and more API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders Security, transparency, and innovation: What sets Pi42 apart in crypto trading Security, transparency, and innovation: What sets Pi42 apart in crypto trading Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains How Pi42 is simplifying crypto trading: CTO Satish Mishra on integrating technical & fundamental insights How Pi42 is simplifying crypto trading: CTO Satish Mishra on integrating technical & fundamental insights Aspero's Irfan Mohammed on why India's bond market is ready for its 'equity moment' Aspero's Irfan Mohammed on why India's bond market is ready for its 'equity moment' 'Voler is debt-free and profitable; Investors' money is our responsibility': Vikas Parasrampuria on recent listing, plans & more 'Voler is debt-free and profitable; Investors' money is our responsibility': Vikas Parasrampuria on recent listing, plans & more Divine Hira IPO: Scaling New Heights in Jewellery Trade – Niraj Gulecha on Expansion, Strategy & Growth NEXT STORY
Economic Times
23-04-2025
- Automotive
- Economic Times
Stock market update: Nifty Auto index advances 2.38%
On an immediate basis, 15,770/52,500 and 15,850/52,700 levels would be major hurdles. Synopsis The Nifty Auto index closed 2.38 per cent up at 22424.45. NEW DELHI: The Nifty Auto index closed on a positive note on Wednesday. ADVERTISEMENT Shares of Tata Motors Ltd.(up 4.61 per cent), Ashok Leyland Ltd.(up 3.6 per cent), Mahindra & Mahindra Ltd.(up 3.58 per cent), Bharat Forge Ltd.(up 2.9 per cent) and Hero MotoCorp Ltd.(up 2.79 per cent) ended the day as top gainers in the pack. On the other hand, Eicher Motors Ltd.(down 0.77 per cent), Apollo Tyres Ltd.(down 0.49 per cent) and Exide Industries Ltd.(down 0.04 per cent) finished as the top losers of the day. The Nifty Auto index closed 2.38 per cent up at 22424.45. Benchmark NSE Nifty50 index ended up 161.71 points at 24328.95, while the BSE Sensex stood up 520.9 points at 80116.49. Among the 50 stocks in the Nifty index, 39 ended in the green, while 11 closed in the red. ADVERTISEMENT Shares of Vodafone Idea, Suzlon Energy, YES Bank, IDFC First Bank and Ola Electric Mobilit were among the most traded shares on the NSE. Shares of Country Condos, Choice Intnl, Rama Phosphates, Cura Tech and Paradeep Phosphates hit their fresh 52-week highs in today's trade, while AGS Transact Tech, Gensol Engg, Dhanvarsha Finvest, Punjab Alkalies and BDR Buildcon hit their fresh 52-week lows. ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel) Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? SEBI warns of securities market frauds via YouTube, Facebook, X and more SEBI warns of securities market frauds via YouTube, Facebook, X and more API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders Security, transparency, and innovation: What sets Pi42 apart in crypto trading Security, transparency, and innovation: What sets Pi42 apart in crypto trading Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains How Pi42 is simplifying crypto trading: CTO Satish Mishra on integrating technical & fundamental insights How Pi42 is simplifying crypto trading: CTO Satish Mishra on integrating technical & fundamental insights Aspero's Irfan Mohammed on why India's bond market is ready for its 'equity moment' Aspero's Irfan Mohammed on why India's bond market is ready for its 'equity moment' 'Voler is debt-free and profitable; Investors' money is our responsibility': Vikas Parasrampuria on recent listing, plans & more 'Voler is debt-free and profitable; Investors' money is our responsibility': Vikas Parasrampuria on recent listing, plans & more Divine Hira IPO: Scaling New Heights in Jewellery Trade – Niraj Gulecha on Expansion, Strategy & Growth NEXT STORY
Economic Times
23-04-2025
- Business
- Economic Times
LG Electronics pauses IPO plans of Indian unit: Reports
Synopsis LG Electronics pauses IPO plans of Indian unit, Bloomberg News reports LG Electronics IPOLG Electronicsmarkets newsLG Electronics IPO newsIPO news Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? SEBI warns of securities market frauds via YouTube, Facebook, X and more SEBI warns of securities market frauds via YouTube, Facebook, X and more API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders Security, transparency, and innovation: What sets Pi42 apart in crypto trading Security, transparency, and innovation: What sets Pi42 apart in crypto trading Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains How Pi42 is simplifying crypto trading: CTO Satish Mishra on integrating technical & fundamental insights How Pi42 is simplifying crypto trading: CTO Satish Mishra on integrating technical & fundamental insights Aspero's Irfan Mohammed on why India's bond market is ready for its 'equity moment' Aspero's Irfan Mohammed on why India's bond market is ready for its 'equity moment' 'Voler is debt-free and profitable; Investors' money is our responsibility': Vikas Parasrampuria on recent listing, plans & more 'Voler is debt-free and profitable; Investors' money is our responsibility': Vikas Parasrampuria on recent listing, plans & more Divine Hira IPO: Scaling New Heights in Jewellery Trade – Niraj Gulecha on Expansion, Strategy & Growth NEXT STORY
