PhonePe, a leading digital payments and financial services platform in India, is gearing up for a public debut. Owned by Walmart and headquartered in Bangalore, the company has filed confidential draft papers with India’s market regulator, SEBI, to raise $1.35 billion through a pure offer for sale (OFS). This method,...
India's Stock Exchange Regulator Eases Rules for Foreign Investors
To ease rules for foreign investors and safeguard their interest, the Securities and Exchange Board of India announced reforms which include approval for trading of both stocks and commodities on a single exchange, and capping of cross-holdings in rating agencies as well as in mutual funds. For foreign portfolio investors,...
GMEX and India’s Metropolitan Stock Exchange to Collaborate
London-based GMEX Group and the Metropolitan Stock Exchange of India will collaborate to develop technology-driven products to enhance India’s capital markets. As part of the proposal, GMEX will acquire a 5% stake in the Exchange, and its subsidiary, the Metropolitan Clearing Corporation of India. The collaboration includes product development in...
Institutional Investment Into India Reaches 3-Year High
Foreign institutional investors’ (FII) inflow in the Indian market for the month of March is the highest single-month investment since February 2013. According to data from National Securities Depository and Securities and Exchange Board of India, FIIs have invested $3.08 billion (until March 28). Another $75 million in equities on...
India’s Stock Market Regulator Announces Relaxed Listing Norms
With the aim of boosting India’s startup ecosystem, the Securities and Exchange Board of India, the body that regulates Indian stock markets, has relaxed listing and fund raising norms for the startups. According to India’s IT industry trade body Nasscom’s key findings of the India Start-up Report 2014, there are:...
Global Regulators Confer Top Ratings on India’s Financial Market
The International Organization of Securities Commissions and the Bank for International Settlements annually evaluate the implementation status of the international Principles for Financial Market Infrastructure in various countries, and assign rating that are considered a global standard for the financial sector.In the assessment for 2015, which took into account regulations...