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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
Editor's note: Two important events from last week fit perfectly into Friction’s universe of corporate governance. On Wednesday, the Securities and Exchange Board of India issued a discussion paper (surprisingly low on details) to review “ownership and governance” of stock exchanges and depositories. On Saturday, Anil Agarwal-helmed Vedanta Ltd announced an open offer by its parent to acquire a 10% stake from public shareholders at a discount of 12% to the stock’s prevailing market price. Clearly, despite last year’s drama of a failed delisting and minority investors crying foul, nothing can deter the company from its chosen path of acquiring its shares cheaply. Turning the clock back? In a bare-bones, 10-page discussion paper, the markets regulator presented its policy intent—that it wants to undo the past decade’s slow and painstaking effort to shutter a plethora of regional stock exchanges and the clean-up of national exchanges brought about by diversifying ownership. Without providing data, reasoning or an explanation of the benefits of its proposals, SEBI is looking to revolutionize ownership of exchanges, which had earlier been mired in controversy, court battles and politics. …
Editor's note: Two important events from last week fit perfectly into Friction’s universe of corporate governance. On Wednesday, the Securities and Exchange Board of India issued a discussion paper (surprisingly low on details) to review “ownership and governance” of stock exchanges and depositories. On Saturday, Anil Agarwal-helmed Vedanta Ltd announced an open offer by its parent to acquire a 10% stake from public shareholders at a discount of 12% to the stock’s prevailing market price. Clearly, despite last year’s drama of a failed delisting and minority investors crying foul, nothing can deter the company from its chosen path of acquiring its shares cheaply. Turning the clock back? In a bare-bones, 10-page discussion paper, the markets regulator presented its policy intent—that it wants to undo the past decade’s slow and painstaking effort to shutter a plethora of regional stock exchanges and the clean-up of national exchanges brought about by diversifying ownership. Without providing data, reasoning or an explanation of the benefits of its proposals, SEBI is looking to revolutionize ownership of exchanges, which had earlier been mired in controversy, court battles and politics. …
A Rs 10,440 crore share swap with listed Shalimar Paints could give the building materials startup a public market presence without a traditional IPO. But the novel route leaves investors grappling with dilution, valuation and governance concerns.
The Bengaluru-based contract manufacturer lands in legal hot water with the California-headquartered transformer startup over a trade secret dispute.
The Rs 250 SIP was launched last year by the former SEBI chairperson with one clear goal: financial inclusion. More than a year later, the much-hyped scheme doesn’t seem to have caught on with MF investors.
A Rs 10,440 crore share swap with listed Shalimar Paints could give the building materials startup a public market presence without a traditional IPO. But the novel route leaves investors grappling with dilution, valuation and governance concerns.
The Bengaluru-based contract manufacturer lands in legal hot water with the California-headquartered transformer startup over a trade secret dispute.
The Rs 250 SIP was launched last year by the former SEBI chairperson with one clear goal: financial inclusion. More than a year later, the much-hyped scheme doesn’t seem to have caught on with MF investors.
