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News18
26-07-2025
- Business
- News18
Samara Capital-backed Sahajanand Medical Tech files IPO papers with Sebi
New Delhi, Jul 26 (PTI) Cardiac stent maker Sahajanand Medical Technologies (SMT) Ltd has filed preliminary papers with the capital markets regulator Sebi to raise funds through an initial public offering (IPO). The IPO is entirely an offer-for-sale (OFS) of 2.76 crore equity shares by promoters and investors, according to the draft red herring prospectus (DRHP) filed on Friday. Those selling shares in the public issue are Shree Hari Trust, Samara Capital Markets Holding, Kotak Pre-IPO Opportunities Fund and NHPEA Sparkle Holding BV. Samara Capital Markets Holding, Kotak Pre-IPO Opportunities Fund, Plutus Wealth Management LLP, and Ashish Kacholia are major shareholders in the company. Founded in 2001, Sahajanand Medical Technologies is engaged in the development of medical devices, with an emphasis on Vascular Intervention and Structural Heart. It has two R&D centres, one in India and another in Thailand. Additionally, it has built an intellectual property portfolio, with 102 patents granted globally, 71 more patent applications in the pipeline, and five design registrations in India. The company's revenue from operations increased by 13.67 per cent to Rs 1,025 crore in fiscal 2025 from Rs 902 crore in the preceding fiscal. Its profit stood at Rs 25 crore compared to a loss of Rs 7.35 crore. Motilal Oswal Investment Advisors, Avendus Capital, HSBC Securities and Capital Markets (India) Private Limited and Nuvama Wealth Management are the book-running lead managers. Earlier, the company had filed draft papers with Sebi in September 2021 for raising Rs 1,500 crore through its IPO. This comprised fresh issuance as well as OFS. However, Sahajanand Medical Technologies didn't go ahead with the public issue. PTI SP BAL BAL view comments First Published: July 26, 2025, 16:00 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
News18
25-07-2025
- Business
- News18
Sebi mulls easing rules for issuers of non-convertible securities
New Delhi, Jul 25 (PTI) Markets regulator Sebi on Friday proposed to ease the rules for issuers of non-convertible securities by replacing the requirement of sending a hard copy of financials and annual reports to security holders with a web link and quick response (QR) code to access the same. The relaxation from sending physical copies of financials will result in cost savings and prevent paper wastage. Also, this would lead to regulatory consistency and ease of doing business. In its consultation paper, Sebi suggested that issuers should send a letter providing the quick response code and web link, including the exact path, where complete details of the annual report are available, to holders of non-convertible securities. The provision of a QR code is proposed to be incorporated to facilitate ease of access for the debenture holders, the regulator said. Additionally, Sebi proposed specifying timelines for issuers having listed non-convertible securities regarding the requirements of sending a copy of financials to the debenture holders. 'Unlike entities having listed specified securities, there are issuers having listed non-convertible securities, which are not constituted under the Companies Act, 2013, and hence, the timelines specified under the Companies Act, 2013, with respect to sending of copy of financials to the debenture holders are not applicable upon them. Therefore, there is a need to specify timelines within which the issuer is required to comply with the said requirements," Sebi said. To provide a timeline for the issuer, Sebi proposed that for listed entities, which are companies, the timelines specified under the Companies Act, 2013, should be applicable. For listed entities, which are constituted under some other Act or statute, the relevant provisions of their parent Act or statute should be applicable. In the absence of any such provision, a timeline of 21 days in line with the provisions of the Companies Act, 2013, should be provided. The Securities and Exchange Board of India (Sebi) has sought public comments till August 15 on the proposals. PTI SP SP BAL BAL view comments First Published: July 25, 2025, 16:45 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
The Print
22-07-2025
- Business
- The Print
Sebi lifts trading ban on Jane Street after Rs 4,843 cr deposit in escrow account
Following the compliance, the restriction on accessing the securities market no longer applies. The move comes after Jane Street complied with Sebi's directive, issued in the interim order dated July 3, to deposit the amount in an escrow account. New Delhi, Jul 21 (PTI) Markets regulator Sebi on Monday announced that it has allowed Jane Street, the US-based proprietary trading firm accused of market manipulation, to resume trading after the company deposited the mandated Rs 4,843.57 crore in an escrow account. 'In terms of para 62.11 of interim order in the matter of index manipulation by Jane Street group dated July 3, 2025, (interim order), upon compliance with the directions in clause 62.1 (creation of escrow account with a lien marked in favour of Sebi), for an amount of Rs 4,843.57 crore, the directions stipulated in clauses … of the interim order shall cease to apply,' Sebi said in a statement. While lifting the trading restriction, Sebi said the entities involved have been directed to 'cease and desist from directly or indirectly engaging in any fraudulent, manipulative or unfair trade practice', or any activity that might breach existing regulations. This includes trading in securities using any of the patterns identified or mentioned in the interim order. Jane Street and the related entities have confirmed their commitment to complying with these conditions. PTI SP BAL BAL This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
News18
20-07-2025
- Business
- News18
Brigade Hotel Ventures Rs 750-cr IPO to open on Jul 24
New Delhi, Jul 20 (PTI) Brigade Hotel Ventures Ltd, owner and developer of hotels in South India, is set to launch its Rs 749.6-crore initial public offering (IPO) on July 24. The IPO is scheduled to close on July 28, and the one-day bidding for the anchor investor will open on July 23, according to the red herring prospectus (RHP). Brigade Hotel Ventures' IPO is entirely a fresh issue of equity shares with no offer-for-sale (OFS) component. Of the total issue proceeds, Rs 468.14 crore will be used for debt payment, Rs 107.52 crore will be utilised for the purchase of an undivided share of land from the promoter, BEL, and the remaining funds will support acquisitions, other strategic initiatives, and general corporate purposes. Earlier this month, Brigade Hotel Ventures raised Rs 126 crore by selling equity shares to 360 ONE Alternates Asset Management. Brigade Hotel Ventures Ltd is a subsidiary of Bengaluru-based real estate company Brigade Enterprises Ltd (BEL). BEL entered into the hospitality business in 2004 with the development of its first hotel, Grand Mercure Bangalore, which commenced operations in 2009. The company has a portfolio of nine operating hotels across Bengaluru (Karnataka), Chennai (Tamil Nadu), Kochi (Kerala), Mysuru (Karnataka) and GIFT City (Gujarat) with 1,604 keys. These hotels are operated by global marquee hospitality companies, such as Marriott, Accor and InterContinental Hotels Group. JM Financial and ICICI Securities are the book-running lead managers to the issue. Shares of the company are expected to list on the bourses on July 31. PTI SP BAL BAL (This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI) view comments First Published: July 20, 2025, 17:00 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
