Sebi panel rejects compulsory demat of initial offerings
The Sebi panel on primary markets, headed by former State Bank of India chairman MS Verma, has spiked the move to make it compulsory for IPOs to take the demat route only. Sebi is, however, planning to set a cap beyond which shares would be allotted only in demat form while making it mandatory for issuers to provide the demat option to investors.

Sebi likely to allow banks to be bankers to their public issues
The Securities and Exchange Board of India (Sebi) is set to lift the ban on commercial banks from acting as bankers to their own public and rights issues. Sebi's primary market department had placed the ban last year.

Institutions rule out fresh exposure to bail out Essar Steel FRN
The financial institutions have ruled out taking fresh exposure in Essar Steel for bailing out its $250 million floating rate notes (FRN), which is to be redeemed on July 13. The institutions have internally decided not to give fresh loans in risk-prone areas, where they already have taken substantial exposure.

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