PC Jewelers has settled the case with the Securities and Exchange Board (SEBI) by paying Rs 7.23 crore on the alleged violation of the Listing Obligation and Disclosure Requirement (LODR) regulation.
In February 2024, SEBI in February 2024 gave details related to the allegations of not disclosing or delaying the default on the loan to the company and the details related to the classification of loans, failing to present the solution scheme to the lenders as well as misleading to investors On giving information, a show cause notice was sent.
The case has been settled judicial after the agreement. PC Jewelers applied for disposal in April 2024 without accepting or rejecting the facts and conclusions of the law.
222 times bids to Denta Water
IPOs of Denta Water and Infra Solutions have received about 222 times bids compared to the proposed shares for sale. Applicants made bids for 1.62 billion shares worth Rs 34,000 crore while IPOs have been offered only 5.25 billion shares (Rs 154 crore).
Strong demand was observed in all categories. Part of eligible institutional buyers (QIB) received 237 times, HNI’s share more than 500 times and 90 times in the category of retail investors. The evaluation of the company at an IPO price of Rs 294 is Rs 785 crore, which is 13 times the net profit of Rs 60 crore in FY 2024. The IPO of Rs 220 crore of Denta is a fully new share issue.
LIC Mutual Fund’s Multi Asset Allocation Fund
The LIC Mutual Fund on Friday announced the introduction of LIC Asset Allocation Fund. This equity taxation is a hybrid offering that will invest in equity, date and commodity like gold and silver. According to the fund house, this fund is different from most current offers.
In this, the allocation in various asset classes will depend on the discretion of fund managers, which is different from the model of most fund houses. The scheme will invest in 65 to 80 per cent of its funds in equity, 10 to 25 per cent date and gold. The fund will also invest up to 10 per cent of silver and retts and invites.