Raters can move company to speculative grade on case-by-case basis
Experts say Sebi's move could also help in creating a market, where investors can get some access to liquidity even in stressed debt portfolios
Market regulator observed that while many have made qualitative disclosures like shutting down and sanitation measures undertaken, only a few have dwelt on financial impact
Sources say companies had approached the regulator seeking relaxation citing unfavorable market conditions through investment bankers and industry bodies
This is the fourth such communication from the market regulator to the designated depository participants/custodians in a month
Norms have been extended till June 30, 2020
A copy of the letter, which alleges misuse of liquidity incentives scheme, was also senr to Sebi
FTMF stunned all by deciding to shutter operations of six schemes with assets under management of more than Rs 25,000 crore
According to market participants, the move will help in stalling mark-to-market impact on portfolios of debt schemes due to the cornavirus-related lockdown and provide relief on exposures to NBFCs
At present, the approvals given to IPOs are valid for a period of 12 months from the date of Sebi's final "observation". This has been extended by six months
the market regulator said that companies can now intimate stock exchanges about their board meetings for declaring financial results two days in advance
Equity scheme investors will have to invest before 1 pm to get same day's net asset value
The regulation was aimed at increasing voting participation and improving corporate governance standards
Investors have already swamped the government and Sebi with such demands as stocks of several companies have taken a beating
Sebi release also hints that authorities intend to keep the markets open despite demands to keep it close to prevent it from falling
Counters such as NCC, Indiabulls Housing Finance, Jindal Steel & Power, Just Dial, Adani Enterprises, Canara Bank, etc. would likely be immediately placed in the ban period for derivatives trading.
Sebi has put default benchmark rate at zero for certain ratings, tenures
Sebi said it has been receiving requests from listed companies with regard to the stipulated cooling off period between two QIP issues
Complying with the new norms will take a lot of effort and readjustment by existing advisors
In November, the watchdog barred KSBL from taking new brokerage clients after it was found that the brokerage firm had allegedly misused clients' securities to the tune of more than Rs 2,000 crore.