Additional penalty 3% will be levied in the event of default on delivery obligations takes place three times or more during six months
Sebi has amended the regulations governing alternative investment funds (AIFs) to simplify and rationalise compliance requirements
The FPO is being launched to meet the Sebi norm of minimum public shareholding of 25% in a listed entity
The enhanced overall limit will be applicable for 10 years from the date of the company's incorporation
The regulator has also reduced the minimum lock-in of pre-IPO securities held by persons other than promoters to six months from the date of allotment
If implemented seamlessly the proposal of the T+1 settlement cycle will be a boon for investors, brokers and all those involved in the stock market
The measures will reduce the systematic risks associated with the movement of securities from the demat account to clearing corporation account
Kavitha Krishnan, Senior Analyst Manager Research, Morningstar India, said expenses are closely regulated by Sebi when it comes to FoF structures
Intermediaries can also generate an e-challan, which can be shared with the companies or entities for making the required payment.
The move comes after the board of Sebi approved a proposal in this regard in June