Author: Legal Parivar

Shreeji Shipping Global Ltd, a provider of shipping and logistics solutions for dry bulk cargo, has submitted draft papers to the Securities and Exchange Board of India (SEBI) seeking approval for an initial public offering (IPO). The offering will consist entirely of a fresh issue of 2 crore equity shares, as stated in the draft red herring prospectus (DRHP). The company plans to allocate ₹289.4 crore from the IPO proceeds to acquire dry bulk carriers in the supramax category from the secondary market. Additionally, ₹19.5 crore will be used to repay debt. As of September 2025, the company reported total…

The bearish trend continued on Dalal Street, with benchmark indices declining for the third consecutive week ending January 24. Persistent foreign investor selling, coupled with uncertainty surrounding global economic policies, maintained pressure on the markets. Falling oil prices and earnings in line with expectations failed to provide significant support. The upcoming week (January 27–February 1) is expected to be eventful, featuring major developments such as the Union Budget 2025, the Federal Reserve’s policy meeting, US GDP data for Q4 2024, and the European Central Bank’s meeting. These events are likely to drive market movements as participants anticipate volatility amid consolidation.…

Foreign Portfolio Investors (FPIs) continue to exit the Indian equity markets, pulling out ₹64,156 crore (USD 7.44 billion) this month, driven by the rupee’s depreciation, rising US bond yields, and expectations of a weak earnings season. This reversal follows net investments of ₹15,446 crore in December, according to data from depositories, highlighting a significant shift in sentiment amid global and domestic challenges. Key Drivers of Outflows Sectoral Impact and Trends Long-Term Perspective The cautious stance by foreign investors reflects broader macroeconomic concerns. While 2024 has seen modest net inflows of ₹427 crore, this is a stark contrast to the ₹1.71…

Despite bearish trends and volatility in the secondary market, the primary market remains active, with two new initial public offerings (IPOs) set to open for subscription in the coming week, starting January 27. These include one mainboard IPO and one from the SME segment. Dr Agarwal’s Health Care IPO The highly anticipated IPO of Dr Agarwal’s Health Care, the parent company of the listed entity Dr Agarwals Eye Hospital, will open on January 29. The price band is set at ₹382-402 per share. This mainboard IPO includes a fresh issuance of equity shares worth ₹300 crore and an offer-for-sale of…

Over 300 stocks, including JSW Steel, NTPC, Sun Pharma, BPCL, Cipla, Hindalco, and Vedanta, reached their one-year highs during intraday trading on the BSE on Monday, September 30, despite major declines in Indian stock market benchmarks. Both the Sensex and Nifty 50 suffered losses of over 1% due to weak global cues. Other stocks hitting 52-week highs included Apollo Hospitals, Britannia Industries, Colgate-Palmolive, Pidilite Industries, ICICI Prudential Life Insurance, AstraZeneca Pharma, National Aluminium, and Welspun Corp. Meanwhile, the Sensex plummeted by 1,272 points, or 1.49%, closing at 84,299.78, while Nifty dropped 368 points, or 1.41%, ending at 25,810.85. Investors saw…

Market regulator SEBI has imposed a fine of ₹12 lakh on NSE Data and Analytics Ltd, previously known as DotEx International Ltd, over various irregularities related to its business continuity plan/disaster recovery (BCP/DR) policy, delays in issuing acknowledgment letters, and issues in system audit reports and the cybersecurity audit framework, among others. NSE Data and Analytics, a KYC Registration Agency (KRA), is a wholly-owned subsidiary of NSE Ltd. In an order dated September 30, SEBI stated, “The evidence and observations on record indicate irregularities concerning the BCP/DR policy, delayed issuance of acknowledgment letters, and issues in the system audit reports…

On September 30, Domestic Institutional Investors (DIIs) made net purchases of shares worth ₹6,646 crore, while Foreign Institutional Investors (FIIs) recorded net sales of ₹9,792 crore, according to provisional data from the NSE. DIIs bought shares totaling ₹17,881 crore and sold shares valued at ₹11,235 crore. In contrast, FIIs purchased shares worth ₹16,621 crore but sold equities amounting to ₹26,413 crore during the trading session. So far this year, FIIs have made net sales of ₹1.39 lakh crore, while DIIs have bought shares worth ₹4.19 lakh crore.

The Delhi High Court directed low-cost airline SpiceJet to file a response to a petition seeking the enforcement of an order requiring the grounding of three aircraft engines and their return to the lessors. The court also instructed the airline to submit an affidavit detailing its assets and scheduled the next hearing for November 13. Justice Manmeet Pritam Singh Arora issued a notice to the Directorate General of Civil Aviation (DGCA), ordering a representative to appear in court on November 13 with a status report confirming compliance with the court’s August 14 order. This report must outline the current status…

Ashish Hemrajani, CEO of BookMyShow’s parent company Big Tree Entertainment, did not attend the second summons issued by the Mumbai Police’s Economic Offences Wing (EOW) regarding the alleged black market sales of Coldplay concert tickets. Instead, the company’s COO, Anil Makhija, represented the firm at the EOW office, according to ANI. The EOW had summoned Hemrajani for the first time on September 27, but he failed to appear, leading to the issuance of a second summons on September 30. The complaint against BookMyShow was filed by advocate Amit Vyas, who accused the company of black marketing tickets for the highly…

Tata Consultancy Services Ltd (TCS) announced on September 30 that its board will convene on October 10 to release the financial results for the second quarter. In an exchange filing, TCS stated that the board will also “consider the declaration of a second interim dividend for equity shareholders.” If approved, this interim dividend will be paid to shareholders listed on the Company’s Register of Members or recognized as beneficial owners in the Depository records as of Friday, October 18, 2024, which is designated as the Record Date. The board meeting is scheduled for Thursday, October 10, 2024, to approve and…