SEBI increases upfront margin on warrants to 25%

The Securities and Exchange Board of India has decided to increase the upfront margin to be paid by allottees of warrants to 25 per cent from 10 per cent earlier.

The markets regulator also decided to relax the pricing norms regarding Satyam Computer, after its board examined a request for exemption of certain provisions of takeover regulation. This was done within the general context.

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SEBI has also shortened the timeframe for announcing the price band for an initial public offering to just two days against the present requirement of two weeks.

The timeline for announcement of bonus share issue has also been reduced to 15 days from 30 days earlier. Further, a company declaring the bonus issue would not require approval from the shareholders.

On dividend, SEBI said, listed companies will have to announce dividend on per share basis and not on percentage of face value of the share, as the face value may differ and mislead investors.

posted under - SEBI updates, BSE updates, BSE stocks, SEBI, SEBI news
source - www.economictimes.com