Tag: Sebi

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SEBI Bans DHFL’s Wadhawans and Four Others from Markets

NEW DELHI: The securities regulator, Sebi, has imposed a ban on Dewan Housing Finance Ltd’s former CMD, Kapil Wadhawan, ex-director Dheeraj Wadhawan, and four others from participating in securities markets for up to five years due to financial misconduct, including fund diversion and falsifying records. The additional individuals sanctioned by Sebi are Rakesh Wadhawan (non-executive chairman), Sarang Wadhawan (former non-executive director), Harshil Mehta (joint managing director & CEO), and Santosh Sharma (former CFO). Sebi has also levied fines totaling Rs 120 crore on the six individuals involved. Kapil Wadhawan and Dheeraj Wadhawan have each received a five-year ban, while Rakesh…

IndustryLatest Stories

Sebi aims to expand strategic investor definition for REITs, InvITs

NEW DELHI: On Friday, Sebi suggested expanding the definition of ‘strategic investor’ in the REIT and InvIT regulations to include Qualified Institutional Buyers (QIBs) and specific categories of Foreign Portfolio Investors (FPIs) to attract more institutional investments. In a consultation paper, Sebi pointed out that the existing definition is overly restrictive, excluding significant institutional investors like pension funds, provident funds, and insurance funds. These entities are active in the REIT and InvIT sectors due to their preference for long-term, stable income-generating investments, but they are currently ineligible for classification as strategic investors. Sebi proposed that the definition be revised to…

CommercialLatest Stories

Executive Centre India to raise ₹2,600 Cr via equity shares

NEW DELHI: Executive Centre India, part of the TEC Group and a provider of flexible workspaces, has submitted its draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (SEBI). The IPO involves a fresh issue of equity shares with a face value of ₹2 each, totaling up to ₹2,600 crore. The company aims to use the net proceeds to invest in its direct subsidiary, TEC Abu Dhabi, for part-payment of acquiring TEC SGP and TEC Dubai, which are currently held by one of its corporate promoters, TEC Singapore. The remaining funds will be used for general…

IndustryLatest Stories

Aurum PropTech Secures SEBI Approval for SM-REIT Launch

Representative image created by AI NEW DELHI: Aurum PropTech has received approval from the markets regulator SEBI to launch its Small and Medium Real Estate Investment Trust (SM-REIT) as part of its expansion plans. The company intends to list the SM-REIT schemes on stock exchanges, allowing retail investors the opportunity for fractional ownership of rent-generating premium office assets. Aurum PropTech announced in a regulatory filing on Friday that it is the first publicly listed company in India to obtain a registration certificate from SEBI for an SM-REIT, which will operate under the name AMSA SM REIT Investment Trust (AMSA). “This…