Funding via primary market over R7,200 cr, bulk from debt
Fund raising by Indian firms through the primary market route jumped 89% to more than R7,200 crore in October over the preceding month. With this, the cumulative fund mobilisation by companies for the first seven months (April-October) of 2013-14 fiscal was R18,636 crore compared with R9,484 crore raised during the year-ago period. According to Sebi, companies mopped up R7,279 crore in October, as against R3,847 crore mobilised in September. Of the R7,279 crore raised in October, a major chunk of the amount (R7,195 crore) was garnered through debt route and the remaining R84 crore via issuance of equity shares.
Sebi seeks clarification on Great Eastern Energys IPO
Sebi has sought clarifications from the merchant banker of Great Eastern Energy, a coal-bed methane explorer, over the firmss proposed IPO. Sebi said it might issue observations on Great Eastern Energys draft offer document within 30 days from the date of receipt of satisfactory reply from the lead merchant bankers to the clarification or additional information sought from them. The regulator had received the draft offer documents on September 17 through its lead manager ICICI Securities. The company plans to come with a public issue of up to 82 lakh equity shares of face value of R10 each.
The London-listed company produces natural gas from coal seams, commonly known as coal bed methane (CBM), in India.
CSE officials meet Sebi boss on trading row
Calcutta Stock Exchange (CSE) officials on Wednesday met the Sebi chief to resolve the crisis that kept trading in C-star suspended since April. We had a fruitful meeting, CSE chairman Dipankar Chatterji said. Trading in C-Star, the own platform of the local bourse, is suspended since April after the regulator sought compliance on clearing house for settlement of trades of the bourse. CSE decided to join BSE-promoted Indian Clearing Corporation for settlement activity and the board under Dipankar Chatterji had approved the same on April 5.
Reliance Capital, 46 others await nod for DP registration
As many as 47 entities, including Reliance Capital, Morgan Stanley India Financial Services and Muthoot Fincorp, are awaiting Sebis approval to function as depository participants in the capital market. A depository participant is an agent that acts as the interface between the investor and capital market. At present, the country has two depositories National Securities Depository and Central Depository Services (India).