Stock Exchange Board of India (SEBI) has approved the initial public offering (IPO) of Jaikumar Constructions on 10th September 2020. The IPO of the company holds 79lakhs of the equity shares of the company for sale.
SEBI’s observations are very necessary for a company to launch its IPO. Following the guidelines of SEBI, the company filed draft papers with SEBI in June 2020 and got the approval on 10th September. However, the process of offering an IPO is expected to help the company build strong financial sustainability and meet the part financing of the ongoing project
‘Parksyde Business Avenue’ in Nashik. It will also aid the company’s repayment of outstanding debtsand help it meets its general corporate purposes
The company is also focused on enlarging its capital base with benefits receiving from the equity shares on the stock exchange and bring out multiple investors with maximum profit initiatives. Aryaman Financial Services and Galactico Corporate Services are the lead managers of the issue. Shares of the company are proposed to be listed on BSE and NSE.
SEBI Imposes Fine of Rs. 45 Lakh on Three Individuals for IPO Fund Diversion
Executive
Nov 23, 2020
Parul Singhal
(
Editor: Ekta Joshi
)
4 Shares
SEBI on Friday (20th November 2020) slapped Rs.45 lakh rupees in fine on three individuals for diverting proceeds from the Initial public offer of paramount print packaging Ltd (PPL) and making wrong disclosures. Individual fine of Rs 15 lakh each has also been imposed on Divyesh Ashwin Dharmesh Ashwin and Anuj Vipin as per the said order. According to the order, PPL as a company had mis-utilised Rs 35 crores and diverted Rs 34 crores to nine vendors. The three individuals provided wrong...
Sahara’s Subrata Roy Must Pay Rs. 62,600 Crores or Spend His Time in Jail: SEBI to Supreme Court
Business
Nov 21, 2020
Atharwa Gauraha
(
Editor: Ekta Joshi
)
10 Shares
On Friday (November 20, 2020), the Securities and Exchange Board of India (SEBI) sought the Supreme Court's instructions to revoke the parole and take custody of Sahara Chief Subrata Roy for his alleged failure to return money to his investors. The SEBI demanded Rs. 62,602 crores from Sahara, which it had received previously.Meanwhile, the Sahara group has claimed that SEBI was “acting biased” and is raising a “wrong demand” by asking for Rs 62,602 crores or $8.48 billion.“It is...
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