Half a dozen firms file DRHPs, first MF transaction on ONDC, and more | News on Markets
Trafiksol issues clarification after SME listing deferment
Small and medium enterprise (SME), Trafiksol — whose listing was postponed by BSE on account of certain queries raised on the fund raise — informed investors that it will pay 15 per cent interest per annum to all those who have been allotted shares for the period of delay in listing. The firm’s listing on September 17 was deferred. It had proposed a software purchase plan from a firm which was termed ‘dubious’ by market participants. The majority portion of the IPO proceeds was to be utilised for this purchase. It has also consented to the appointment of a monitoring agency to regulate the payment for the same.
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Half a dozen firms file DRHPs
The euphoria in the initial public offering (IPO) market shows no sign of a slowdown. So far this week, half a dozen firms have filed their draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi). The firms that have filed their DRHPs include Vikran Engineering, Midwest, Rahee Infratech, Vikram Solar, Dr Agarwal Health Care and Jaro Institute of Technology Management and Research. Also, another half a dozen are likely to file before the end of the week.
1st MF transaction on ONDC
The Open Network for Digital Commerce (ONDC) on Tuesday facilitated its first mutual fund (MF) transaction. The Rs 100 transaction was made in a balanced fund, Hrushikesh Mehta, senior vice-president, Financial Services at ONDC, said. The platform has tied up with Nippon India Mutual Fund. Mehta said more asset management firms will come on board soon. “It has taken us 18 months but we have taken the first step in changing our nation from savers to investors,” he said.
First Published: Oct 01 2024 | 11:13 PM IST
