Synopsis Earlier this month, the Securities and Exchange Board of India (Sebi) ordered the impounding of INR4,843 crore from US-based high-frequency trading firm Jane Street. The market regulator alleges that the firm manipulated index prices across 21 expiry sessions between August 2023 and May 2025, earning unlawful gains in the process. Over the years, Sebi
The Securities and Exchange Board of India (SEBI) has issued a circular to clarify the application of rebalancing rules for passive breaches in actively managed mutual fund schemes. These breaches occur when a fund’s investments exceed allowed limits due to factors beyond the control of fund managers, such as price fluctuations or large redemptions. SEBI’s
The Securities and Exchange Board of India (SEBI) has granted investors greater flexibility by allowing co-investment opportunities directly within the structure of Alternative Investment Funds (AIFs). This move, announced on June 18, is expected to streamline the co-investment process and attract more capital to India’s alternative investment space. What has changed? Earlier, investors who wished
Markets regulator SEBI on Monday tweaked the investor charter for investment advisers and research analysts to enhance financial inclusion and financial literacy. This came in view of the recent developments in the securities market, including the introduction of the Online Dispute Resolution (ODR) platform and SCORES 2.0 — a web-based centralised grievance redressal system of
Angel funds cannot exercise their pre-emptive rights to make additional investments and increase stakes in their existing portfolio companies if they have lost their startup status, according to the market regulator Securities and Exchange Board of India (SEBI). “Extant AIF (Alternative Investment Funds) regulations do not provide for investment by Angel Funds in entities other
In September 2024, I wrote a piece, ‘Flexi Cap Funds v/s Multi Cap Funds: Which Is Better at a Market High?’. The valuations of the Indian equity market then were exceptionally high: the BSE SmallCap P/E and BSE MidCap P/E were at around 36x and 34x, respectively, while the BSE LargeCap Index was nearly 26x.