Latest news with #ICDRRegulations
Business Standard
a day ago
- Business
- Business Standard
Board of Dilip Buildcon approves allotment of 1.53 cr equity shares on conversion of warrants
At meeting held on 13 June 2025 The Board of Dilip Buildcon at its meeting held on 13 June 2025 has approved the allotment of 1,53,90,510 equity shares of the Company having face value of Rs. 10/- each against receipt of the balance subscription amount of Rs. 246.03 /- per warrant (i.e. 75% of the issue price), pursuant to the exercise and conversion of 1,53,90,510 convertible warrants in compliance with the provisions of SEBI (Issue of Capital and Disclosure Requirements) Regulations 2018 (ICDR Regulations), and the terms of allotment of the warrants.
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Business Standard
30-04-2025
- Business
- Business Standard
Sebi proposes mandatory demat before IPO filings to plug regulatory gaps
The Securities and Exchange Board of India (Sebi) has proposed mandating the dematerialisation of securities held by key shareholders, including promoters and directors, before a company files for an initial public offering (IPO). Despite multiple regulatory efforts by Sebi and the Ministry of Corporate Affairs (MCA) to promote dematerialisation, a significant portion of shares held by critical pre-IPO shareholders remains in physical form, creating a regulatory gap that persists post-listing. In a consultation paper released on Wednesday, Sebi proposed that shareholders such as promoters, directors, key managerial personnel (KMPs), senior management, selling shareholders, qualified institutional buyers (QIBs), domestic employees, and those with special rights must mandatorily dematerialise their shares before filing the IPO offer document. Additionally, shares held by non-systemically important non-banking financial companies (NBFCs), stockbrokers, and other regulated entities will also need to be dematerialised. Sebi highlighted that dematerialisation eliminates inefficiencies and risks associated with physical share certificates, such as loss, theft, forgery, and delays in transfer and settlement. Since 2000, Sebi and MCA have introduced nearly 10 regulatory changes to encourage or mandate dematerialisation, yet gaps remain. Currently, Sebi's Issue of Capital and Disclosure Requirements (ICDR) Regulations require promoters' securities to be in demat form before an IPO filing. To address these issues, Sebi proposes expanding Regulation 7(1)(c) of the ICDR Regulations to include a broader range of shareholders, ensuring a more robust and streamlined process.
Mint
30-04-2025
- Business
- Mint
Adani Green shares in focus as promoter to convert warrants into equity, infuse ₹500 crore
Adani group stock: Adani Green shares hogged the limelight in trade on Wednesday, April 30, after the company informed exchanges that Ardour, part of its promoter group, has opted to exercise and convert 44,90,416 warrants into equity shares of the company of the face value of ₹ 10 each, infusing nearly ₹ 500 crore in the company. In January 2024, Adani Green had allotted 6,31,43,677 convertible warrants to Ardour, by way of a preferential allotment on a private placement basis. The issue price of the warrant was ₹ 1,480.75 apiece, out of which ₹ 370 (25% of the issue price) per warrant was received as the initial subscription amount at the time of allotment. Adani Green, on Tuesday, informed exchanges that out of the 6,31,43,677 convertible warrants allotted to Ardour, it has opted to convert 44,90,416 warrants into equity shares. Following this, the Management Committee of the Board of Directors of Adani Green, during its meeting held on April 29, 2025, considered and approved the allotment of 44,90,416 equity shares of the company with a face value of ₹ 10/- each. The shares will be allotted to Ardour once it pays the remaining amount of ₹ 1,110.56 per warrant. This will result in a capital infusion of ₹ 498.68 crore in Adani Green. Adani Green informed that as per ICDR Regulations, Ardour can convert the balance 5,86,53,261 warrants by July 24, 2025 (18 months from the date of allotment). 'The new equity shares so allotted shall rank pari passu with the existing equity shares of the Company in all respects, including the payment of dividend and voting rights,' the Adani group company said. The power generation company earlier this week posted a 24% jump in its March 2025 quarter net profit to ₹ 383 crore as against ₹ 310 crore in the same period a year ago. Its revenue from core operations rose 21.6% to ₹ 3,073 crore in the January to March quarter of FY25 on a YoY basis. Meanwhile, revenue from the power supply segment jumped 37% to ₹ 2,655 crore. Shares of Adani Green Energy were trading on a volatile note, gyrating between gains and losses. While Adani Green share price opened at ₹ 928.50, nearly 0.6% higher than its previous close of ₹ 921.90, it hit a day's low of ₹ 911.55 in less than 60 minutes of trade on the BSE. As of 10 am, Adani Green Energy stock was down 0.3% at ₹ 919.25 apiece.
