Market regulator Sebi has exempted Government of India (GoI) from making an open offer for public shareholders pursuant to its proposal to hike stake in Central Bank of India to 85.31%. The government has proposed to acquire about 30.84 crore shares of the bank through preferential allotment. This would increase the government’s holding in the bank from 79.15% to 85.31%.
“This is a fit case to grant exemption...to the Government of India from the obligation to make an open offer,” said SEBI.
The regulator said the government, which is expected to infuse R2,406 crore into the Central Bank of India, would enable the PSU lender to achieve the 8% ‘Capital to Risk-
weighted Assets Ratio (CRAR)’ as per the BASEL II norms.
BSE to adopt Deutsche Boerse’s trading platform
Eurex Group and the Bombay Stock Exchange (BSE) have entered into a long-term technology alliance under which BSE will deploy Deutsche Börse Group’s trading architecture in a first step. BSE aims to replace its derivatives market platform in 2013 and plans to subsequently replace its cash market platform. According to a release issued by BSE, the new partnership will allow the Indian exchange to quickly achieve the highest global standards for speed, reliability and order-handling capacity.
Sebi passes consent order on Den’s application
A Sebi panel, comprising whole-time members Rajeev Agarwal and Prashant Saran, has passed a consent order on the application submitted by Den Networks and 24 other entities. The applicants have remitted a sum of R4.93
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