Assets under custody of overseas investors in the Indian stock market, including those held through participatory notes, have fallen to an eight-month low of R12.93 lakh crore ($206 billion). According to latest data released by Sebi, the total Assets under custody (AUC) of Foreign Institutional Investors (FIIs) in Indian equities declined by about R44,000 crore to R12.93 lakh crore as on July 31, 2013. This is the lowest level of AUC of FIIs since December 2012, when they held R13.35 lakh crore. Overall, FIIs? exposure to Indian equities through the participatory notes (P-notes) route soared to R1.48 lakh crore in July after hitting an 11-month low of R1.47 lakh crore in June.
Fresenius Kabi Oncology: SAT reserves order
The Securities Appellate Tribunal (SAT) reserved its judgment while hearing the plea filed by Fresenius Kabi Oncology, challenging the conditional nod given by the capital market regulator for its delisting plans. On Monday, the tribunal directed both the parties to make their submissions after the conclusion of the final hearing. Senior advocate Janak Dwarkadas, appearing on behalf of Fresenius Kabi Oncology, said that the order by the Sebi appears to be in the form of a legislation through a quasi-judicial order.
Six SMEs launch IPOs despite weak trends
Despite sluggish market conditions, as many as six small- and medium-sized companies have launched their initial public offers (IPOs) worth R70 crore, on the BSE?s SME platform in the past one month. However, big companies continue to find it difficult to raise capital via IPOs and the last IPO by a major company was that of Just Dial in May, through which the internet firm mopped-up about R900 crore.
IDBI MF launches tax-saving fund
IDBI Mutual Fund on Monday launched an open-ended equity-linked savings scheme (ELSS), IDBI tax saving fund, with an aim to provide capital appreciation to investors along with tax benefit. The new offering, which will be open for subscription from Tuesday, will close on September 3.