Latest news with #Sebi
Time of India
3 hours ago
- Business
- Time of India
NSDL IPO: Rs 4,000 crore issue to open on July 30; valuation pegged at Rs 16,000 crore
NSDL IPO: The initial public offering (IPO) of National Securities Depository Ltd (NSDL) will open for public subscription on July 30, after the depository received an extension from markets regulator Sebi to complete its listing by August 14, people familiar with the matter said, reported ET. The IPO will be a pure offer for sale (OFS) of up to 5.01 crore equity shares by existing shareholders, including IDBI Bank, National Stock Exchange (NSE), Union Bank of India, State Bank of India, HDFC Bank, and Specified Undertaking of the Unit Trust of India (SUUTI). NSDL, which had to launch its IPO within a year of receiving regulatory clearance, filed its red herring prospectus (RHP) after obtaining Sebi's nod for an extension. The issue was delayed due to prolonged discussions around the company's valuation, according to an ET report. The IPO is expected to fetch up to Rs 4,000 crore, based on an estimated valuation of around Rs 16,000 crore, with IDBI Bank offloading about 2.22 crore shares, NSE selling 1.8 crore, and Union Bank of India exiting 5 lakh shares, according to the RHP. The three-day subscription window will be open from July 30 to August 1, while the anchor book will open on July 29. Revised size, valuation talks NSDL had filed its draft red herring prospectus (DRHP) in July 2023, and submitted an addendum in May 2025, reducing the issue size from 57.2 million shares to 50.1 million. The revised size reflects changing market dynamics and internal deliberations on pricing. In the unlisted space, NSDL shares recently traded at Rs 1,025, down from Rs 1,250 a month earlier, according to IPO Watch data shows a current grey market premium (GMP) of Rs 154 per share. At this level, the company's price-to-earnings (P/E) ratio stands near 60x, compared to listed rival CDSL, which trades at 69x. Strong financials despite delayed launch Despite delays and weaker market sentiment, NSDL's financial performance remains robust. For the third quarter of FY25, the depository posted a 29.82% year-on-year jump in consolidated net profit to Rs 85.8 crore, while total income grew 16.2% to Rs 391.21 crore. NSDL's IPO is one of the most significant public offerings in the financial infrastructure space this year, and will be closely watched by investors amid evolving primary market conditions. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
News18
5 hours ago
- Business
- News18
Sebi, market bodies launch SEBI vs SCAM drive to fight financial frauds
New Delhi, Jul 24 (PTI) Markets regulator Sebi on Thursday said it has launched a joint investor awareness campaign 'SEBI vs SCAM" in collaboration with MII and the Association of Mutual Funds in India (AMFI) to tackle financial frauds and protect investors in the securities market. This unified initiative aims to bolster investor protection and combat financial fraud and scams within the securities market. 'The Securities and Exchange Board of India (Sebi), in collaboration with Market Infrastructure Institutions (MIIs); NSE, BSE, CDSL, NSDL, MCX, MSEI and NCDEX and AMFI have launched a joint media campaign titled 'SEBI vs SCAM'," the regulator said in a release. The campaign aims to educate investors on a range of fraudulent practices prevalent in the market. These include fake trading apps, unregistered investment advice from social media and finfluencers, deepfakes, intermediary impersonation, paid trading courses promising guaranteed returns, and illegal 'dabba" and 'opinion" trading, it added. According to Sebi, rhe initiative will focus on sensitising investors to identify red flags, use verification protocols, and follow good digital practices. The regulator also encouraged investors to 'follow the campaign on Sebi's X handle, @SEBI_India, and the social media handles of the MIIs and AMFI, using the hashtag #SEBlvsSCAM." PTI HG MR (This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI) view comments First Published: July 24, 2025, 21:30 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.
Mint
5 hours ago
- Business
- Mint
Former finance secretary Ajay Seth appointed Irdai chairperson
New Delhi: The government on Thursday appointed former finance and economic affairs secretary Ajay Seth as chairperson of the Insurance Regulatory and Development Authority of India (Irdai). With Seth's appointment, the country's three apex financial sector regulators—the Reserve Bank of India (RBI), Securities and Exchange Board of India (Sebi), and Irdai—now have top finance ministry officials as their heads. The government in December had appointed the then revenue secretary Sanjay Malhotra as the governor of RBI and later in February announced finance and revenue secretary Tuhin Kanta Pandey as the new chairman of Sebi. 'The Appointments Committee of the Cabinet (ACC) has approved the appointment of Ajay Seth, IAS (KN: 1987) (Retd.), former Finance Secretary and Secretary, Department of Economic Affairs, to the post of Chairperson, Insurance Regulatory and Development Authority of India (IRDAI) for a period of three years or till the incumbent achieved the age of 65 years, or until further orders, whichever is the earliest,' a Department of Personnel and Training notification said. Seth, a 1987-batch IAS officer of the Karnataka cadre, retired as economic affairs secretary in June this year after a four-year stint. He served as DEA Secretary since 2021 and briefly held additional charge as revenue secretary earlier this year after Tuhin Kanta Pandey was appointed Sebi chairperson. He joins the insurance sector regulator after a gap of four months since the position was vacated by Debasish Panda, who completed his term in March this year. Like other financial sector regulator, Irdai chairperson is appointed by the ACC, which is headed by the Prime Minister and has home and finance ministers as other members. Irdai oversees orderly development of the insurance sector, protects the interest of policy holders, prevents mis-selling of insurance products, builds reliable management information systems and also provides long-term funds to infrastructure sectors that ensure accelerated growth of the economy. The regulator is also tasked to implement government's programme of insurance for all by 2047. A mechanical engineer with an MBA, Seth's appointment comes at a time when Irdai is engaged in addressing the issue of cyber threats to the financial markets and strengthening regulations to curb fraud and mis-selling. As DEA secretary Seth was instrumental in shaping policies related to economic growth, fiscal management, infrastructure financing, and digital payments. Seth has over 33 years of experience in public service. As secretary in the finance ministry, he was also made the officer-in-charge of the finance track during India's G20 presidency two years back. During his term at the finance ministry, Seth oversaw India's first sovereign green bond issue and set up the infrastructure finance secretariat, which plans long-term funding for key projects.
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Business Standard
7 hours ago
- Business
- Business Standard
NSE's investor base surges ahead of anticipated IPO, driving mkt optimism
Anticipation of a long-awaited initial public offering (IPO) is driving a remarkable influx of retail investors into the National Stock Exchange (NSE). The exchange's public shareholder base has ballooned to 1.57 lakh as of June 2025, a dramatic four-fold increase since the end of March. Retail investors, defined as individuals holding nominal share capital up to ₹2 lakh, are leading this charge. Their numbers skyrocketed from approximately 34,000 in March to 1.46 lakh by June, boosting their collective stake in the country's largest exchange from 9.89 per cent to 11.81 per cent. This surge also follows a significant operational change: the activation of NSE's International Securities Identification Number (ISIN) on March 24. This unique global code has streamlined the share transfer process, slashing transaction times from months to just days. Market participants confirm shares are now freely transferable, with robust volumes from both buyers and sellers. "The pre-ISIN era involved cumbersome document compliance, limiting transactions," explained Abhay Doshi, Co-founder of UnlistedArena. "Since the stock was effectively 'defreezed,' we've seen robust investor demand significantly expanding the shareholder base. Growing clarity and progress on the IPO have further fueled this positive sentiment." The heightened demand has propelled NSE's unlisted share price to ₹2,225 apiece, valuing the exchange at approximately ₹5.5 trillion. This marks a substantial rise from around ₹1,600 at the start of the current financial year. "The rise underscores growing retail confidence in the exchange as a wealth creation opportunity," noted Uday Tardalkar, economist and market expert. "We're also seeing stake dilution from some long-term HNI holders." While retail ownership surged, the stake held by individual public shareholders owning over ₹2 lakh share capital dipped slightly to 9.52 per cent (from 9.64 per cent). Foreign ownership also declined by nearly one percentage point since March. IPO hopes have intensified following indications that the NSE is nearing a ₹1,388-crore settlement with the Securities and Exchange Board of India (Sebi) regarding long-pending co-location and dark fibre cases. Sources suggest Sebi could grant the crucial no-objection certificate (NOC) for filing the Draft Red Herring Prospectus (DRHP) within the next two months. "Strong investor demand for ownership creates a compelling case for listing," stated Mrugank Paranjape, Chairman of the IMC Task Force on Capital Markets and Managing Partner at MCQube. "Listing will enable better public price discovery, addressing the current lack of clarity on valuation." Among NSE's top shareholders are Life Insurance Corporation (LIC), SBI Capital Markets, Aranda Investments (Mauritius), State Bank of India (SBI), Canada Pension Plan Investment Board, and prominent investor Radhakishan Damani.
Time of India
7 hours ago
- Business
- Time of India
BigBasket feels qcomm heat; PhysicsWallah clears Sebi test
Next BigBasket feels qcomm heat; PhysicsWallah clears Sebi test Want this newsletter delivered to your inbox? Also in the letter: BigBasket loses steam as quick commerce intensifies Driving the news: Tata Sons' FY25 annual report reveals a 3% dip in turnover for BigBasket's business-to-consumer (B2C) unit, Innovative Retail Concepts, which clocked Rs 7,673 crore. Its business-to-business (B2B) arm, Supermarket Grocery Supplies, fared worse, falling 7% to Rs 2,227 crore. Losses for the B2C business widened sharply to Rs 1,851 crore, up from Rs 1,267 crore in FY24. Between the lines: Tata 1mg back in investment mode after strong FY25 growth By the numbers: Consolidated revenue jumped 20% year-on-year (YoY) to Rs 2,392 crore. Tata 1mg Technologies, its main entity, posted Rs 375 crore in revenue and Rs 65 crore in PAT (tripling YoY). Subsidiary Tata 1mg Healthcare recorded revenue of Rs 2,016 crore but a Rs 342 crore loss. The big picture: Also Read: PhysicsWallah gets Sebi nod, set to raise Rs 4,000 crore in IPO Driving the news: Catch up quick: By the numbers: Zoom out: SuperK raises Rs 100 crore from Binny Bansal, Mithun Sacheti; cricketer Shubman Gill joins cap table Deal details: The round was led by Flipkart cofounder Binny Bansal's 3State Ventures and CaratLane founder Mithun Sacheti. Existing investors Blume Ventures and Xeed Ventures also participated. Adding a touch of star power, Indian Test skipper Shubman Gill also joined the captable. By the numbers: What's next: Catch up quick: CBDT sharpens AI tools for tax crackdown ahead of new law Driving the news: A recent crackdown prompted taxpayers to withdraw Rs 963 crore in deduction claims and pay an additional Rs 409 crore in tax. Zoom out: The taxpayer base has tripled from 30 million in FY14 to 90 million in FY25, thanks to digitisation and pre-filled ITRs – 99% of which are being accepted without edits. Alphabet Q2 profit jumps 19% as AI demand powers cloud, YouTube By the numbers: AI Overviews now serve over 2 billion monthly users globally, and AI Mode – introduced in India and the US – has already hit 100 million monthly users. What's new: Zoom in: Tesla braces for rough quarters as EV subsidies fade, autonomy bets rise What's the matter: Between the lines: Also Read: A decline in BigBasket's turnover indicates increasing competition from quick commerce players. This and more in today's ETtech Top 5.■ Shubman Gill puts on investor cap■ Taxman's AI■ Alphabet & Tesla: Two tales of Q2Tata Digital-owned BigBasket is feeling the heat as quick commerce players like Blinkit, Zepto, and Swiggy Instamart tighten their grip on urban grocery demand. The pressure is showing in the Tata Group has voiced internal concerns about BigBasket's sluggish execution, as we reported earlier this year. As a sign of its intent, the conglomerate began scouting for $1.3 billion in new capital in April, of which $1 billion is earmarked for BigBasket contrast, Tata Digital's epharmacy arm, 1mg, has bounced back with strong momentum After raising only $40 million since 2021 (when Tata acquired a majority stake), 1mg is now pursuing a $300 million external fundraise to expand offline operations and develop logistics, marking a shift from Tata's earlier debt-led digital founder Alakh PandeyPhysicsWallah has secured Securities and Exchange Board of India's (Sebi) approval to go public , becoming the first venture-backed Indian edtech startup to clear the regulatory hurdle for an Noida-based firm confidentially filed IPO papers in March under the pre-filing route and now plans to raise Rs 4,000 crore at a valuation of Rs 35,000–40,000 crore. Sebi's approval came through on July 18, according to by WestBridge Capital, Lightspeed, GSV Ventures, and Hornbill Capital, PhysicsWallah last raised $210 million in September 2023, pegging its valuation at $2.8 revenue crossed Rs 4,000 crore, as we reported earlier, more than doubling from Rs 1,940 crore in FY24. However, net losses widened to Rs 1,131 crore, mainly due to surging employee now joins a growing IPO queue of new-age startups, including Meesho Pine Labs , and Urban Company . Together, this cohort could unlock over Rs 18,000 crore in fresh capital this Thontepu (left) and Neeraj MentaSuperK, a value-first grocery retailer operating in small towns, has raised Rs 100 crore in fresh funding The retailer grew nearly 15% in FY25, up from Rs 85 crore the previous year. It now targets an annualised Rs 2,000–3,000 crore business in Andhra Pradesh and Telangana alone over the next five years. The latest round values the company at 2–2.5x its previous Rs 160 crore plans to expand to 300 towns and venture into smartphones and appliances. It is also strengthening its Costco-style membership scheme, which has helped double monthly in 2020 by Neeraj Menta (ex-Flipkart) and Anil Thontepu (ex-PhonePe), SuperK currently operates 130 stores across more than 80 towns in Andhra Pradesh and Telangana, employing a franchise-led Income Tax Department is stepping up its use of artificial intelligence and big data to crack down on evasion ahead of a new income tax law in 2026, Central Board of Direct Taxes (CBDT) chairman Ravi Agrawal told with over 6.5 billion digital transactions and data-sharing agreements with foreign tax bodies, the department is pushing analytics-led audits and behavioural nudges to drive voluntary April 2022, over 11 million updated returns have been filed, generating Rs 11,000 crore in additional tax reported a robust second quarter, with net profit increasing 19% year-over-year to $28.2 billion, supported by ongoing momentum in cloud computing and a deeper integration of AI across its platforms. New launches, including key rollouts in India, added to the climbed 14% YoY to $96.4 billion. Google Cloud led the charge with a 32% jump, touching $13.62 Sundar Pichai underlined the growing traction of AI Mode in answering complex queries. Next in line are Deep Search and advanced personalisation features. Meanwhile, Alphabet plans to increase its capital expenditure for 2025 to $85 billion, up from earlier estimates, citing a surge in demand for AI generated $9.8 billion in global advertising revenue. Its 'Other Bets' portfolio, which includes Waymo, contributed $373 million to the overall is gearing up for a challenging period as the US government scales back electric vehicle subsidies. CEO Elon Musk warned of a ' few rough quarters ahead ,' even as the company doubles down on self-driving tech and its upcoming robotaxi service. Second-quarter revenue fell 12% year-on-year to $22.5 billion — Tesla's steepest decline in over a decade. Global deliveries dropped 13.5% and adjusted profit per share missed estimates at 40 cents. Revenue from regulatory credits plunged 51%.Musk's narrative now hinges on autonomy, both in consumer EVs and the Cybercab platform, slated for a late-2025 launch. A new affordable EV model was quietly produced in June, though details remain scarce. Tesla also flagged delays in scaling production.
