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Missed out on happenings in the financial markets this week as you were tuned out? Here’s a curated list of BL’s key stories on this subject over the past week.
Karvy order
SEBI has passed an order against Karvy Stock Broking barring it from taking on new clients after a recent inspection by the NSE revealed irregularities in dealings with clients
Porting your DP
Incidentally, do you know how you can change your stock broker? It’s a simple process really!
Privatisation push
Confirming reports about a big privatisation push, the Government this week kicked off a process to give up majority stakes and management control in five PSUs – Concor, BPCL and Shipping Corporation will be up for strategic sales while Tehri Hydro Electric and NEEPCO will go to NTPC.
Ceding control
After months of negotiations, Subhash Chandra and the promoters of Zee Entertainment announced the sale of their 16.5 % equity stake in the company to financial investors including OFI Global China Fund. This is expected to help the promoters repay debt, including that to mutual funds who had lent to them.
DHFL drama
Paving the way for its reference to IBC, RBI superseded the Board of DHFL this week and appointed an administrator.
Big guys only
SEBI has increased the minimum ticket size for investing in PMS from Rs 25 lakh to Rs 50 lakh per investor and also raised the net worth criteria or firms offering PMS services from Rs 2 crore to Rs 5 crore.
CSB IPO
The Catholic Syrian Bank IPO was fully subscribed on Day One. The retail portion was subscribed 5.6 times while the NII portion saw only 10% subscription on the first day.
Aramco offer
The world’s largest IPO from Saudi Aramco has attracted $19 billion in subscriptions so far.
Open offer
Aurora Bidco and other firms have made an open offer to acquire 25.3 per cent in Accelya Solutions at Rs 944.19 per share.
NIIT buyback
NIIT is set to flag off its tender buyback offer at Rs 125 per share on Monday. The stock last closed at Rs 102.
Compiled by Aarati Krishnan
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