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The Securities and Exchange Board of India (Sebi) has sought clarification from the merchant bankers of Bharti Infratel, regarding the company's proposed IPO. Without disclosing the details of the clarifications, Sebi said that “clarifications (are) awaited from lead managers” for the proposed public offer. In its latest weekly update to the processing status of draft offer documents filed with Sebi, uploaded on its website on Monday, the regulator has said that clarifications were awaited on Bharti Infratel IPO as on October 25, 2012. Sebi said it might issue observations on Bharti Infratel 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.
Markets cold to FM’s fiscal plan, Sensex up marginally
The BSE benchmark Sensex on Monday surrendered most of its early gains on buoyancy over the Cabinet reshuffle to end just 10 points up as markets were unimpressed by the government’s five-year fiscal consolidation roadmap, which was announced a day before RBI's policy meeting. After resuming on a positive note, the Sensex went up over 118 points to touch the day's high of 18,743.41. The momentum, however, could not be sustained due to choppy trade in interest-rate sensitive stocks. The Sensex finally ended at 18,635.82, just 10.48 points up largely on account of rise in RIL and ITC shares. The NSE index, Nifty, ended 1.30 points up at 5,665.60, after moving between 5,698.30 and
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