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NCDEX will issue preferential shares to expand its equity capital. It will issue 11.34 million shares to Jaypee Capital and 1.83 million shares to existing shareholder Shree Renuka Sugars. This will result in Jaypee Capital holding a 22.37% stake in NCDEX and becoming the dominant shareholder.

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NCDEX to issue pref shares to Jaypee CapTHE commodity market regulator has given its final approval to the agri-bourse NCDEXs board proposal for inducting Jaypee Capital, a Delhi-based broker, as its anchor investor.According to the proposal, NCDEX will make a preferential issue of 13.17 million shares, expanding its equity to 50.67 million shares ( 50.67 crore). Of this, Jaypee will be issued 11.34 million shares and existing shareholder Shree Renuka Sugars 1.83 million shares. After the preferential issue, Jaypees stake in NCDEX will stand at 22.37%, making it the dominant shareholder, while Shree Renukas stake will stand at 12.5%.
Delay in Sebi approval holds up BSEs plan to buy CAMSThe Bombay Stock Exchanges (BSE) plan to buy a majority stake in Chennai-based registrar and share transfer agent Computer Age Management Services (CAMS) appears to be getting delayed, with the Securities and Exchange Board of India (Sebi) yet to approve the proposal.The deal is awaiting the regulators green flag, and the BSE cant proceed till then.The BSE board will be meeting later this week to discuss the matter, and will decide on the future course of action.
New SIM card delivery model worries telcosTHE government has proposed a new delivery model that will require phone companies to mail SIM cards and a personal identification number separately to customers seeking a new mobile connection, a move that operators say will kill the India growth story.Mobile phone companies say the proposed norms will sound death knell to the current system, where retailers stock and distribute SIM cards. It will also impact the livelihood of millions of retailers and franchisees who are currently engaged in this business.
ED issues lookout notice against ModiSUSPENDED IPL czar LalitModi, who is now in the UK, faced the threat of detention in India with the Enforcement Directorate alerting airports and other entry points across the country in connection with its probe.A lookout circular was issued by the financial watchdog against Modi, 46, who is under probe for alleged violation of foreign exchange regulations regarding the T20 cricket tournament. Modi has been accused of misappropriation of Cricket Board funds to the tune of Rs 470 crore..The circular empowers enforcement agencies at the countrys check points to detain the individual who has been flagged and keep the issuing agency immediately informed.
Hyundai Motor launched Santa Fe SUVSouth Korean car maker Hyundai Motor has launched its global bestseller Santa Fe SUV at an introductory price of 20.95 lakh (2WD) and 22.95 lakh (4WD) (ex-showroom) New Delhi.The Santa Fe will be available with 2.2-litre CRDi engine It would be available in six-speed manual transmission, with an option of 2WD and 4WD. Santa Fe would be pitted against Honda CR-V, GM Captiva and Toyota Fortuner.

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  • 1. NCDEX to issue pref shares to Jaypee CapTHE commodity market regulator has given its final approval to the agri-bourse NCDEXs board proposal for inducting Jaypee Capital, a Delhi-based broker, as its anchor investor.According to the proposal, NCDEX will make a preferential issue of 13.17 million shares, expanding its equity to 50.67 million shares ( 50.67 crore). Of this, Jaypee will be issued 11.34 million shares and existing shareholder Shree Renuka Sugars 1.83 million shares. After the preferential issue, Jaypees stake in NCDEX will stand at 22.37%, making it the dominant shareholder, while Shree Renukas stake will stand at 12.5%.
  • 2. Delay in Sebi approval holds up BSEs plan to buy CAMSThe Bombay Stock Exchanges (BSE) plan to buy a majority stake in Chennai-based registrar and share transfer agent Computer Age Management Services (CAMS) appears to be getting delayed, with the Securities and Exchange Board of India (Sebi) yet to approve the proposal.The deal is awaiting the regulators green flag, and the BSE cant proceed till then.The BSE board will be meeting later this week to discuss the matter, and will decide on the future course of action.
  • 3. New SIM card delivery model worries telcosTHE government has proposed a new delivery model that will require phone companies to mail SIM cards and a personal identification number separately to customers seeking a new mobile connection, a move that operators say will kill the India growth story.Mobile phone companies say the proposed norms will sound death knell to the current system, where retailers stock and distribute SIM cards. It will also impact the livelihood of millions of retailers and franchisees who are currently engaged in this business.
  • 4. ED issues lookout notice against ModiSUSPENDED IPL czar LalitModi, who is now in the UK, faced the threat of detention in India with the Enforcement Directorate alerting airports and other entry points across the country in connection with its probe.A lookout circular was issued by the financial watchdog against Modi, 46, who is under probe for alleged violation of foreign exchange regulations regarding the T20 cricket tournament. Modi has been accused of misappropriation of Cricket Board funds to the tune of Rs 470 crore..The circular empowers enforcement agencies at the countrys check points to detain the individual who has been flagged and keep the issuing agency immediately informed.
  • 5. Hyundai Motor launched Santa Fe SUVSouth Korean car maker Hyundai Motor has launched its global bestseller Santa Fe SUV at an introductory price of 20.95 lakh (2WD) and 22.95 lakh (4WD) (ex-showroom) New Delhi.The Santa Fe will be available with 2.2-litre CRDi engine It would be available in six-speed manual transmission, with an option of 2WD and 4WD. Santa Fe would be pitted against Honda CR-V, GM Captiva and Toyota Fortuner.