Jayshree P Upadhyay
National Stock Exchange of India Ltd’s hunt for its new managing director and chief executive officer will begin this week when the exchange publishes advertisements inviting applications for the top post. “You can expect advertisements in the coming Monday or few days here and there, inviting applications. The candidates will… Read more »
The National Stock Exchange of India (NSE) has battled several issues this year—there was a stand off with shareholders on its listing plans; allegations surfaced of allowing unfair access to some brokers; and managing director Chitra Ramkrishna resigned unexpectedly. In an interview, chairman Ashok Chawla said the initial share sale… Read more »
The drama surrounding the sudden and surprising resignation of Chitra Ramkrishna, managing director and chief executive officer (CEO) of the National Stock Exchange of India Ltd, on Friday will not affect the timeline for the exchange’s planned initial public offering (IPO), three people familiar with the development said. The exchange… Read more »
Chitra Ramakrishna, managing director and chief executive officer of National Stock Exchange of India (NSE), the country’s largest stock exchange in terms of volumes, has tendered her resignation, said an NSE statement issued on Friday. “The board of directors of NSE met today and accepted her resignation,” the statement said…. Read more »
The Securities and Exchange Board of India (Sebi) has asked PVR Ltd to explain a profit-sharing deal struck by its promoters with private equity investors that was not disclosed to its shareholders, said two people with direct knowledge of the matter, asking not to be identified. On Thursday, multiplex firm… Read more »
The Securities and Exchange Board of India (Sebi) is expected to take a series of steps to encourage angel investments and boost the start-up ecosystem, at its quarterly board meeting on Wednesday. The measures include allowing foreign portfolio investors (FPIs) to invest in unlisted, non-convertible debentures (NCDs) and debt instruments,… Read more »
Sebi has also allowed foreign portfolio investors (FPIs) to trade directly in corporate bonds and eased norms for investment vehicles such as Infrastructure Investment Trusts (InvITs) and Real Estate Investment Trusts (REITs).
Unlike BSE, where strategic shareholders including Singapore Exchange Ltd and Caldwell Investment Management Ltd exited entirely, most NSE investors want to retain part of their holdings.
The new exchange will provide a platform for Indian companies to raise capital by issuing foreign currency instruments, allow start-ups to raise equity from foreign investors by getting listed on the international exchange and also allow companies incorporated outside India to list in the international financial services centre.
Sebi has noted cases where PE investors have been granted more rights than their investments warrant. In some cases, PE firms have a dominant say in the working of a company with just a minority stake and could restrict promoter/management discretion to a large extent—for instance, in raising fresh capital.