Newsletter Contents: SEBI Updates, MCA Updates, RBI Updates,, IBC Updates, Labour Law Updates, Press Information , IPO & Investment updates, IRDAI Updates, Department of Telecommunications, MSME Updates, Competition Commission of India, Current Affairs – FAQ’s
1. SEBI Updates:
| [Sl. | Particulars | Link |
| 1 | Review of timelines for listing of securities issued on Private Placement basis – Chapter VII of the Operational Circular issued under SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021 | Click Here |
| 2 | Net Settlement of Cash segment and Futures & Options (F&O) segment upon expiry of stock derivatives | Click Here |
| 3 | Inclusion of Equity Exchange Traded Funds as list of eligible securities under Margin Trading Facility | Click Here |
| 4 | Extension of timeline for implementation of Standardized Industry Classification by CRAs | Click Here |
| 5 | Updated Operational Circular for listing obligations and disclosure requirements for Non-convertible Securities, Securitized Debt Instruments and/ or Commercial Paper – Modifications in Chapter IV and Introduction of Chapter XII on Scheme(s) of Arrangement by entities who have listed their NCDs/ NCRPS | Click Here |
| 6 | Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Seventh Amendment) Regulations, 2022 | Click Here |
| 7 | Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 [Last amended on December 5, 2022] | Click Here |
| 8 | “SEBI Order for Compliance” – Demand Notice for RC No. 6096 of 2022 against Safal Capital (India) Ltd. in the matter of Safal Capital (India) Ltd. | Click Here |
| 9 | Clarification – Scheme(s) of Arrangement by entities who have listed their Non-convertible Debt securities (NCDs)/ Non-convertible Redeemable Preference shares (NCRPS) (‘debt listed entities’) | Click Here |
| 10 | Foreign investment in Alternative Investment Funds (AIFs) | Click Here |
| 11 | Status of SCORES complaints as on November 30, 2022 | Click Here |
2. MCA – 21 Updates
| Sl. | Particulars | Link |
| 1 | MCA Secretary Manoj Govil nominated as SEBI Board Member | Click Here |
| 2 | Competition Bill: Standing Committee on Finance summons MCA officials on Nov 29 | Click Here |
| 3 | Government seeks proposals to privatise NMDC’s Steel Plant | Click Here |
3. RBI / Banks Updates
| Sl. | Particulars | Link |
| 1 | Notification of Significant Benchmark | Click here |
| 2 | Review of norms for classification of Urban Co-operative Banks (UCBs) as Financially Sound and Well Managed (FSWM) | Click here |
| 3 | Revised Regulatory Framework – Categorization of Urban Co-operative Banks (UCBs) for Regulatory Purposes | Click here |
| 4 | Operations of subsidiaries and branches of Indian banks and All India Financial Institutions (AIFIs) in foreign jurisdictions and in International Financial Services Centers (IFSCs) – Compliance with statutory/regulatory norms | Click here |
| 5. | Revised Regulatory Framework for Urban Co-operative Banks (UCBs) – Net Worth and Capital Adequacy | Click here |
| 6. | Liquidity Adjustment Facility- Change in rates | Click here |
| 7. | Change in Bank Rate | Click here |
| 8. | Standing Liquidity Facility for Primary Dealers | Click here |
| 9. | Review of SLR holdings in HTM category | Click here |
| 10. | Reserve Bank of India – Bulletin Weekly Statistical Supplement – Extract | Click here |
| 11. | Statement on Developmental and Regulatory Policies | Click here |
| 12. | Reserve Bank of India signs Bilateral Swap Agreement with Maldives Monetary Authority | Click here |
| 13. | Reserve Bank of India – Bulletin Weekly Statistical Supplement – Extract | Click here |
4. IBC / Insolvency Law updates
| Sl. | Particulars | Link |
| 1 | Liquidation Processes Ending with Order of Dissolution/Closure: As on 31st October, 2022 | Click here |
| 2 | The Insolvency and Bankruptcy Board of India Research Initiative, 2019 (Updated as on 30th November, 2022) | Click here |
| 3 | IBBI chief bats for putting valuation of IBC entities in public domain | Click here |
| 4 | IBBI expected to introduce two key changes to the Insolvency Law: Report | Click here |
5. Labour law updates
| Sl. | Particulars | Link |
| 1 | What the recent SC ruling means for Employee Pension Scheme subscribers | Click here |
| 2 | Provident Fund withdrawal online process: Here is a step-by-step guide | Click here |
| 3 | Disgruntled PF Account Holders Post Grievances Online, EPFO Responds | Click Here |
| 4 | Eligibility for higher EPS pension under EPF scheme: All you need to know | Click Here |
| 5 | Yes Bank files IBC plea against Zee Learn subsidiary | Click Here |
6. Press information
| Sl. | Particulars | Link |
| 1 | India Post Payments Bank cautions its customers from Cyber Frauds | Click here |
| 2 | BIS signs MoU with top six engineering institutes of India for introducing Indian standards as a part of curriculum | Click here |
| 3 | Jobs in Electronics Manufacturing, ITeS and Startups are expected to cross 1 crore mark in two years’ time: Shri Ashwani Vaishnaw | Click here |
| 4 | Atal Innovation Mission launches fresh applications for Community Innovator Fellowship | Click here |
| 5 | Scheme for Intellectual Property (IP) protection revised to upgrade the professional charges of the facilitators | Click here |
| 6 | All states should establish price monitoring centres in all districts: Centre | Click here |
| 7 | Ministry of Civil Aviation issues guidelines for PLI incentive scheme to support indigenous drone industry | Click here |
| 8 | Steps taken by Indian Railways to avoid delay of trains during the foggy weather | Click here |
| 9 | Centre’s reforms result in consistent increase of FDI inflow; FDI grows from US $ 45.15 billion in 2014-2015 to US$ 84.84 billion in 2021-22 | Click here |
| 10 | BIS issues All India First License for Bullet Resistant Jackets and Protective Clothing for Industrial Workers exposed to heat | Click here |
| 11 | Cancellation of FCRA Licenses of NGOs | Click here |
| 12 | Use of Standard Battery in EV | Click here |
| 13 | Schemes for Welfare of Women and Children | Click here |
| 14 | A series of reform measures undertaken to promote India’s upcoming drone industry | Click here |
| 15 | Initiatives taken by the government to boost manufacturing | Click here |
7. IPO & investment Section
| Issuer Company | Exchange | Open | Close | Issue Price (Rs) | Issue Size (Rs Cr) |
| Arihant Academy Limited IPO | NSE SME | Dec 16, 2022 | Dec 21, 2022 | 90.00 | 14.72 |
| Uma Converter Limited IPO | NSE SME | Dec 15, 2022 | Dec 21, 2022 | 33.00 | 18.41 |
| Landmark Cars Limited IPO | BSE, NSE | Dec 13, 2022 | Dec 15, 2022 | 481.00 to 506.00 | 552.00 |
| Droneacharya Aerial Innovations Limited IPO | BSE SME | Dec 13, 2022 | Dec 15, 2022 | 52.00 to 54.00 | 33.97 |
| Sula Vineyards Limited IPO | BSE, NSE | Dec 12, 2022 | Dec 14, 2022 | 340.00 to 357.00 | 960.35 |
| Abans Holdings Limited IPO | BSE, NSE | Dec 12, 2022 | Dec 15, 2022 | 256.00 to 270.00 | 345.60 |
| All E Technologies Limited IPO | NSE SME | Dec 09, 2022 | Dec 13, 2022 | 90.00 | 48.20 |
| PNGS Gargi Fashion Jewellery Limited IPO | BSE SME | Dec 08, 2022 | Dec 13, 2022 | 30.00 | 7.80 |
Key Updates in Brief {Source- ET, BS etc.}
1. Sula Vineyards raises Rs 288 cr from anchor investors ahead of IPO
New Delhi, Leading wine producer Sula Vineyards on Friday said it has raised Rs 288 crore from anchor investors days ahead of its initial public offering (IPO). The company has decided to allot 80,70,158 equity shares to anchor investors at Rs 357 apiece, aggregating to Rs 288.10 crore, according to a circular uploaded on the BSE website.
The capital was raised from 22 investors, including BNP Paribas Arbitrage, Morgan Stanley (Asia) Singapore Pte Ltd, Citigroup Global Markets Mauritius Pvt Ltd, Goldman Sachs and Abu Dhabi Investment Authority.
The public issue will be entirely an offer for sale (OFS) aggregating to 26,900,532 equity shares by the promoter, investors and other shareholders.
Those offloading shares through the OFS route are promoter, founder and CEO Rajeev Samant, and investors such as Cofintra, Haystack Investments Limited, Saama Capital III, Ltd, SWIP Holdings Limited, Verlinvest S.A and Verlinvest France SA.
- To read more: Click Here
2. 3 IPOs to garner Rs 1,830 crore next week; Uniparts India to make debut
While the calendar 2022 is approaching its end, there is ample action left for the domestic primary market, which has been busy with new issues and listings lately.
In the upcoming week, three initial public offerings (IPOs) are set to knock at Dalal Street to mobilise funds about Rs 1,830 crore via primary. Besides them, another player- Uniparts India- is set to make its debut in the bourse.
Sula Vineyards and Abans Holdings will launch their initial offerings on Monday, December 12. But the former one’s issue will conclude on Wednesday, December 14 whereas the latter one will close on Thursday, December 15.
Sula Vineyards is looking to raise Rs 960.35 crore via its IPO, which is completely an offer or sale (OFS) of about 2.69 crore shares. The company has fixed its price band in the range of Rs 340-357 apiece with a lot size of 42 shares.
Incorporated in 1998, Landmark Cars is the third issue, whose IPO will be open for subscription between December 13-15 in the range of Rs 481-506 apiece, with a lot size of 29 equity shares.
The company is eyeing to raise Rs 552 crore via its initial offering for the investors including a fresh issue of Rs 150 crore, whereas existing shareholders and promoters will offload shares worth Rs 402 crore.
- To read more: Click Here
3. Snapdeal to shelve $152 million IPO amid tech stocks rout
MUMBAI – SoftBank-backed Indian e-commerce firm Snapdeal has decided to pull the plug on its $152 million IPO, the company told Reuters, making it the latest casualty of a meltdown in tech stocks that has soured investor sentiment.
Snapdeal filed its initial public offering (IPO) regulatory papers for approval in December 2021, a year that saw many stock market debuts and record fund raising by Indian startups. But many are delaying IPOs amid a stock market rout that has raised concerns over frothy tech valuations.
“There is no appetite for tech stocks right now,” said the source, who added that SEBI has been told about the prevailing market conditions and certain other strategic decisions that contributed to the change in IPO plans.
The first source added that Snapdeal’s has not decided on any new timeline for when it may refile its IPO. Snapdeal had wanted to fund organic growth initiatives with the proceeds of its IPO, which was set to include a fresh issue of shares worth 12.5 billion rupees ($152 million) and an offer for sale of 30.8 million shares. Investors SoftBank, Sequoia Capital and Ontario Teachers’ Pension Plan Board had offered to sell a part of their stakes in the IPO.
- To read more: Click Here
8. irdai – insurance updates
| Sl. | Particulars | Link |
| 1 | Press Release | Click Here |
| 2 | Insuring India by 2047 – New landscape for Insurance Sector | Click here |
| 3 | Irdai tonic for health insurance: A regulator for hospitals and doctors | Click here |
| 4 | IRDAI proposes 3 years insurance cover for cars, 5 years for two-wheelers | Click here |
| 5 | Banca 2.0: Bajaj Allianz Life Insurance scouting for more bank partnerships post IRDAI’s move to increase tie-up limits | Click here |
9. Department of Telecommunications (dot)
| Sl. | Particulars | Link |
| 1 | TRAI releases recommendations on “Use of Street Furniture for Small Cells and Aerial Fibre deployment” | Click here |
| 2 | TRAI releases recommendations on ‘Licensing Framework for Establishing and Operating Satellite Earth Station Gateway (SESG)’ | Click here |
| 3 | TRAI releases Consultation Paper on ‘Introduction of Calling Name Presentation in Telecommunication Networks’ | Click Here |
| 4 | Ministry of Information and Broadcasting Issues Guidelines for Platform Services offered by Multi-System Operators. | Click here |
| 5 | TRAI issues Telecom Tariff (69th Amendment) Order 2022 | Click here |
10. msme / SME updates
| Sl. | Particulars | Link |
| 1 | Pending Dues to MSMEs | Click here |
| 2 | Atmanirbhar Bharat Package | Click here |
| 3 | Promotion of Entrepreneurship in MSME Sector | Click here |
| 4 | Samadhaan Platform | Click here |
| 5 | Digitization of MSMEs | Click here |
11. Competition Commission of India (CCI)
| Sl. | Particulars | Link |
| 1 | Govt will change bill to ease global deals | Click here |
| 2 | Apollo Tyres update on order issue by Competition Commission of India | Click here |
| 3 | CCI clears Tanweer Infrastructure’s acquisition of Sembcorp Energy | Click here |
| 4 | CCI approves Bharat Biotech International-Eastman exports deal | Click here |
12. Cabinet Decisions / New Acts
| Sl. | Particulars | Link |
| 1 | Significant Improvement in payment of GENCO dues with the implementation of Electricity (LPS and Related Matters) Rules, 2022 | Click here |
| 2 | The Digital Personal Data Protection Bill 2022 | Click here |
| 3 | Schemes for Educational and Economic Empowerment of Minorities | Click here |
| 4 | State cabinet rejects renewal of incentive scheme for wine industry | Click here |
13. Current Affairs Quiz (taken from various sources)
| Sl. | Questions | Answers |
| 1 | Which Union Ministry launched the ‘Nai Chetna’ campaign? | Ministry of Rural Development |
| 2 | Which is the first north-eastern state to launch its ‘Mental Health and Social Care Policy’? | Meghalaya |
| 3 | Which state is the host of ‘International Lusophone Festival’? | Goa |
| 4 | India has sent a team to which country to assess potential lithium deposits? | Argentina |
| 5 | Which country’s President has been named as the Chief Guest at Republic Day celebrations? | Egypt |
| 6 | India-US joint military exercise ‘Yudh Abhyas-2022’ is held in which Indian state? | Uttarakhand |
| 7 | As per recent data, what is the Maternal Mortality Ratio (MMR) in India during 2018-20? | 97 per lakh live births |
| 8 | ‘Hornbill Festival’ is the flagship cultural event of which Indian state? | Nagaland |
| 9 | Which country has successfully used steam to propel Moon spacecraft? | Japan |
| 10 | Agni Warrior is a bilateral defence exercise held between India and which country? | Singapore |
Top 5 Current Affairs:
- India and South Korea signed the arrangement regarding Economic Development Cooperation Fund loan of over 245 billion Korean won. The agreement is for the establishment of Intelligent Transport System on Nagpur-Mumbai Super Communication Expressway Project in Delhi.
- The gross GST revenue collected in the month of November 2022 is ₹1,45,867 crore. The revenues for the month of November are 11% higher than the GST revenues in the same month last year. Out of the total revenue, CGST is ₹25,681 crore, SGST is ₹32,651 crore, IGST is ₹77,103 crore and Cess is ₹10,433 crore.
- World Meteorological Organisation (WMO) released a report titled ‘State of Global Water Resources 2021’. As per the report, the volume of water available in the Ganga and the groundwater in the river-basin reduced significantly between 2002 and 2021.
- The Chhattisgarh Assembly unanimously passed two amendment bills to raise Reservations in government jobs and admission in educational institutions to 76%.
- The Madras High Court has banned mobile phones in temples across Tamil Nadu. As per the Court, the move to ban use of mobile phone is to maintain purity and sanctity of the places of worship.
The End
Disclaimer: This write – up is prepared as a Knowledge Sharing Initiative. *Every effort has been made to avoid errors or omissions in this material. In spite of this, errors may creep in. Any mistake, error or discrepancy noted may be brought to our notice which shall be taken care of in the next edition. . In no event the author shall be liable for any direct, indirect, special or incidental damage resulting from or arising out of or in connection with the use of this information.