Tag: Sebi

Latest StoriesRegulatory

Lucknow seals Sahara Shaher for lease violations; company appeals

File Photo LUCKNOW: Sahara Shaher, located in Lucknow’s upscale Gomti Nagar, was sealed by municipal authorities on Monday due to alleged lease violations. Lucknow Mayor Sushma Kharkwal stated, “The decision to seal the premises was made because Sahara authorities breached the terms of their 30-year lease, which expires in 2024.” A team from the municipal corporation, supported by police, executed the sealing. According to SEBI regulations, Kharkwal mentioned that Sahara India violated the agreement signed in 1994 by failing to construct homes or develop any projects as mandated. The 170-acre Sahara Shaher land is now under the control of the…

IndustryLatest Stories

Grand Housing in Chennai Files DRHP for IPO

NEW DELHI: Grand Housing, based in Chennai, has submitted its draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) for its upcoming initial public offering (IPO). The offer, priced at ₹5 per equity share, includes a sale of up to 35,500,000 shares by promoter Vijay Surana J. Established in 2004, Grand Housing primarily concentrates on plotted developments in Tamil Nadu. The company is focused on acquiring adjacent land parcels to create larger, more economically viable areas for future development. Its real estate offerings include two main segments: the residential segment, which focuses on the development…

Latest StoriesRegulatory

Sebi, stock exchanges drop fines on Unitech

The Securities and Exchange Board of India (Sebi), along with the NSE and BSE, has decided to waive fines and penalties previously imposed on Unitech due to non-compliance issues linked to its former management, according to the government-appointed board of the embattled real estate firm. The leading stock exchanges have also lifted trading restrictions on Unitech securities. Starting October 7, Unitech Ltd’s securities will be transitioned from the restricted Z category to the actively traded B category on the BSE, while the NSE will move the company from the restricted BZ series to the default EQ series. “Shareholders have long…

CommercialLatest Stories

WeWork India Reports ₹14.14 Crore Loss Ahead of IPO

NEW DELHI: WeWork India, a major player in co-working spaces, is set to launch its Initial Public Offering (IPO) this week. The company has reported a loss of Rs 14.14 crore for the first quarter of this fiscal year, despite an increase in revenue, driven by robust office demand. The loss in the same quarter last year was Rs 29.17 crore. WeWork India’s revenue from operations rose by 19% to Rs 535.31 crore in the April-June quarter, compared to Rs 448.65 crore during the same period last year, as indicated in the latest Red Herring Prospectus (RHP) submitted to SEBI.…

IndustryLatest Stories

Sahara Seeks SC Approval for Asset Sale to Adani Properties

NEW DELHI: Sahara India Commercial Corporation Ltd (SICCL) has approached the Supreme Court for permission to sell various properties, including Amby Valley in Maharashtra and Shahara Saher in Lucknow, to Adani Properties Private Limited. The petition, mentioned for hearing recently, is expected to come up on October 14. In the plea filed by advocate Gautam Awasthi, it states, “..to outright sell various properties belonging to the Sahara Group to Adani Properties Private Limited under the terms outlined in the term sheet dated September 6, 2025.” The interlocutory application, filed in ongoing matters concerning the Sahara Group, outlined the challenges faced…

IndustryLatest Stories

Indiabulls AMC, others resolve AIF violations case with Sebi

NEW DELHI: Indiabulls Asset Management Company, now known as Groww AMC, along with its schemes and former officials, settled a case with SEBI regarding alleged breaches of alternative investment fund regulations after a payment of ₹1.43 crore. Those involved in the settlement include Indiabulls AIF, Indiabulls Dual Advantage Real Asset Fund (IBDARA), Indiabulls Real Estate Fund (IBREF), Ambar Maheshwari, Amit Jain, and Parth Muria, as stated in a SEBI order. The case was related to violations reportedly dating back to 2017. In 2023, Indiabulls AMC was acquired by the fintech company Groww. It has three business sectors: mutual funds, alternative…

Latest StoriesResidential

SEBI Leases ₹7L/month Apartment for Chairman in Prabhadevi

Here’s a rewritten version of the provided content: The Securities and Exchange Board of India (SEBI) has leased a luxury apartment in the upscale Prabhadevi area of south Mumbai for its chairman, with a monthly rent of ₹7 lakh. The three-year lease, signed on September 3, 2025, covers a five-bedroom unit spanning 3,000 sq ft in a premium residential complex overlooking the Arabian Sea. The current Chairman of the capital market regulator is Tuhin Kanta Pandey, who assumed office on March 1. Situated on the 51st floor of Rustomjee Crown, which is part of a 5.75-acre development, the apartment includes…

IndustryLatest Stories

SEBI Reclassifies REITs as Equity, Expands Investor Access

NEW DELHI: To enhance participation in Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs), the Securities and Exchange Board of India (SEBI) has approved amendments to the SEBI (Mutual Funds) Regulations, 1996, reclassifying REITs as “equity” while maintaining InvITs under the “hybrid” category for mutual fund and specialized investment fund investments. The decision, made during SEBI’s board meeting, is expected to facilitate greater mutual fund investment in REITs by including them in equity indices. The regulator noted that these changes followed public consultations in April 2025 and extensive discussions with industry stakeholders. This adjustment aligns domestic regulations with…

IndustryLatest Stories

Brookprop pays ₹20.47L to settle REIT rule breach with Sebi

NEW DELHI: Brookprop Management Services, managing Brookfield India Real Estate Trust, settled an alleged REIT norms violation with the Securities and Exchange Board of India (Sebi) by paying Rs 20.47 lakh on Monday. “With the acceptance of the settlement terms and receipt of the settlement amount (Rs 20.47 lakh), the adjudication proceedings initiated through the show cause notice (SCN) dated June 11, 2024, are resolved under the settlement Regulations,” stated Sebi in its order. The notice alleged that the applicant used borrowed funds to facilitate the distribution of Net Distributable Cash Flow (NDCF). This resolution followed the entity’s application to…

IndustryLatest Stories

Runwal Enterprises Secures Sebi Approval for ₹1,000 Crore IPO

Runwal Enterprises, a real estate developer based in Mumbai and promoted by Subodh Runwal, has received approval from the Securities and Exchange Board of India (SEBI) to launch an initial public offering (IPO) valued at ₹1,000 crore. The proposed IPO will consist of a fresh issue of equity shares with a face value of ₹2 each, with no offer-for-sale component included. The company stated that the proceeds from the IPO will be allocated to support its expansion plans and enhance its balance sheet. Furthermore, there will be a reservation of shares for eligible employees, allowing them to subscribe at a…