India’s IPO lifecycle is the process that takes a company from being privately owned to being publicly listed. The importance of each stage, from DRHP filing to listing day, cannot be underestimated for investors, regulators, and businesses as it determines the pace of growth and the level of transparency.

How Companies Go Public in India

“Going public” in India means the company will go through a metamorphosis. The IPO lifecycle acts as a blueprint that guarantees transparency, adherence to rules, and investor’s safety. In India, the Securities and Exchange Board of India (SEBI) is in charge, hence the whole system can be considered one of the most organized IPO structures in the world.

Both Zomato and LIC’s examples have demonstrated how the achievement of an IPO relies heavily on the planning and the following of the regulations. Besides solving the problem of the needed capital, an IPO allows the public to take part in a company’s advancement.

Step 1: Pre-IPO Preparations – Laying the Foundation

Without completing their own internal preparation, no company would ever dare file for an IPO.

1. Financial Audits and Reporting:

According to SEBI, at least three years of audited financial statements are mandatory. Besides providing the essential financial figures, these documents also show how the company is making money and what is its level of indebtedness. For example, in the case of LIC’s IPO, for the sake of investors’ understanding, five years of audited financials were included.

2. Board Approvals and IPO Planning:

Among others, the board gets to approve the following: issue size, pricing strategy, and capital utilization. Ensuring harmony with the business’s long-term objectives is to be expected here.

3. Appointment of Merchant Bankers and Advisors:

Chartered bankers as Kotak Mahindra Capital or ICICI Securities are the ones responsible for managing the entire IPO program. They execute the due diligence, prepare the prospectus, and sort out the legality of it all.

4. Internal Restructuring and Compliance:

The operations of a company might have been overhauled, governance structures updated, and prepared disclosures for investors might have been done in order to meet the SEBI requirements.

Step 2: Filing the DRHP with SEBI – The First Step

The Draft Red Herring Prospectus (DRHP) is actually the first way for the company to communicate with SEBI. Information here includes:

• Business Overview: Products, services, revenue model, and market positioning
• Financials: Revenue, profits, and past performance
• Promoter Details: Background and shareholding pattern
• Risk Factors: Operational, market, and regulatory risks

Example: As part of its DRHP, Zomato detailed its losses against growth metrics; thus, it showed a transparent view to prospective investors.

Why it matters: The DRHP leads to the protection of investors’ rights by showing the company’s financial and operational health in totality.

Also Read: Studio LSD IPO: Subscription Status, Price Band, and Listing Forecast

Step 3: SEBI Review and Red Herring Prospectus (RHP)

The DRHP is initially submitted to the Securities and Exchange Board of India (SEBI) for a thorough check for accuracy, completeness, and consistency with the regulations. The company may have to provide clarifications to multiple queries and also amend the prospectus.

The RHP is then submitted to SEBI and the stock exchanges. It includes:

• Final price band for bidding
• Number of shares to be offered
• Details about the issue date and issue closure date

Fact: SEBI’s review process ensures that the investors are protected from the fraudulent disclosures and also, they get to know the prices and the operations in a transparent way.

Step 4: Marketing – The IPO Roadshow

One of the ways the corporations get the investors to be interested in their proposals is by carrying the roadshows out:

• Domestic Roadshows: Meetings with institutional investors held in India’s financial centers like Mumbai and Bengaluru

• International Roadshows: Looking for foreign institutional investors (FIIs) targeted for large IPOs

• Investor Education: Teaching about the product, the ways of making money, and the expansion strategy

Example: Zomato’s roadshow highlighted its growth plan and prospering food delivery industry to draw institutional investors.

Also Read: GNG Electronics IPO Opens Soon – ₹225–₹237 Price Band Confirmed!

Step 5: Book-Building and Price Discovery

India is inclined to use the book-building method while implementing IPOs. The major stages include:

1. Defining a price band (minimum and maximum price)
2. Aggregating bids from institutional and individual investors
3. Setting the final issue price depending on demand

Example: LIC IPO encountered a retail oversubscription of nearly 3x, pointing out substantial public interest.

Fact: Book-building gives a possibility of the fair market price to be found thus, demand and supply become balanced and consequently the risks of underpricing or overpricing will be diminished.

Step 6: Share Allotment and Refunds

Once the IPO has come to a close:

• Securities are allotted to successful applicants
• Money is refunded to the investors who did not receive the shares
• Shares are credited to demat accounts, which is a transparent process

Example: In Zomato’s IPO, retail investors got the shares in the proportion to their bids, with oversubscription causing the fractional allotment.

Step 7: Listing Day – The Public Debut

Listing day is opposite the end of the IPO process, the time when the shares begin trade on NSE and BSE.

• Price Movements: Driven by demand, market sentiment, and sector trends
• Market Perception: The strong listing raises investor confidence; the weak one can mean the caution

Examples:

• Zomato listed a little bit higher than its IPO price, early investors got a reward
• LIC shares listed at a price that was 8-9% higher than the IPO, showing the strong interest of retail and institutional investors

Fact: Listing day is very important for the market credibility and future capital-raising potential.

Step 8: Post-IPO Compliance

At the moment public, companies bear a big burden of ongoing compliance:

• Quarterly Financial Reporting: Publishing of revenue, profit, and cash flow
• Shareholding Disclosure: Frequent updates on promoters and institutional holdings
• Corporate Governance: Applying regulations of SEBI and stock exchanges

Example: HDFC Bank together with Infosys uphold investor presentations coupled with quarterly reporting as part of their shareholders’ trust program.

Key Facts About IPOs in India

• The IPO market in India is among the largest in Asia and has more than 70 IPOs in 2024.
• Book-building is the technique that guarantees fair pricing both for retail and institutional investors.
• Investors are allowed to participate in three types of categories: retail, institutional, and high-net-worth.
• IPOs turn out to be a capital source for companies to invest in their growth, repay their debts, or take over other companies.
• After the IPO, companies become more visible in the market and gain credibility.

The IPO lifespan in India is a multi-step, regulated process that is characterized by transparency, investor protection, and market efficiency. The filing of DRHP to the listing day is just as important as any other stage of it. Knowing this cycle will not only help investors make the right decisions but will also be a guide for companies when they go through a successful transition from being privately owned to a public entity.

FAQ’s

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Read the full article here: 7 Things to Know About India’s IPO lifecycle — For more updates, visit Wittiya – Top Business News, Stock Market Insights & Financial Updates (Wittiya).

Groww, a stock-broking app from India, has got the green light from Sebi for a public offering that could raise up to $1 billion. This is, however, happening concurrently with the company’s difficulties arising from a drop in retail participation and the implementation of tighter regulations that have had a negative impact on trading volumes.

Groww IPO get Sebi Nod for $1 Billion

Groww of India has been given the go-ahead to set out a $800 million to $1 billion initial public offering by the Securities and Exchange Board of India (Sebi). In the midst of a decreasing number of active clients, the announcement propels India’s fintech arm sector over a long way, reflecting the firm’s decline that is similar to that of other top Indian brokerages.

On May 26, Groww submitted a confidential draft red herring prospectus with Sebi. Its parent company, Billionbrains Garage Ventures Pvt. Ltd, has already brought in JPMorgan Chase & Co. and Kotak Mahindra Bank Ltd as lead banks for the public offering.

Retail Trade Headwinds Affecting Brokerages

The Indian brokerage industry is at a crossroads in its journey vying a slowdown in the market. According to the National Stock Exchange (NSE) report, the combined active client base of Groww, Zerodha, Angel One, and Upstox declined by around 2 million in India for the first six months of 2025.

As many as 600,000 clients were withdrawn from the trading platforms in June only. While 600,000 clients decided to leave Groww since the beginning of this year, Zerodha lost 550,000, Angel One 450,000, and Upstox a little more than 300,000.

The loss of clients in the stock market coincides with limited retail participation in the derivatives market as a consequence of the stricter rules issued by Sebi for futures and options trading, which include higher margin requirements, shorter expiries of contracts, more tightly eligibility standards, and increased taxation.

Also Read: How Did Groww Maintain Its Lead Amid a Market Dip?

Groww IPO Implication in a Slowing Market

Gross initial public offering (IPO) authorization is given against the backdrop of the headwinds facing retail trading activity in India. Volatility and tepid returns have driven off the retail investors who had so eagerly jumped into the market immediately after Covid.

According to analysts, the current slowdown is a short-term scenario. Retail activity always takes a hit during uncertain times, but the financialization of savings in India is still very strong.

Solid Financial Performance Supports Groww IPO

The loss of new clients amid the slowdown notwithstanding, Groww’s financials are nevertheless impressive. The company registered a turnover of ₹1,819 crore in FY25, representing a steep rise from ₹545 crore in FY24 whereby a one-time domicile tax of ₹1,340 crore had significantly impacted performance. Income grew 31% to ₹4,056 crore.

Groww has also completed a $200 million financing round in June 2025, that led to a $7 billion valuation, with funds from Iconiq Capital and Singapore’s sovereign wealth fund GIC. The company has been and is supported by institutional investors such as Y Combinator, Tiger Global, Ribbit Capital, and Peak XV Partners and by renowned angel investors like Satya Nadella, CEO of Microsoft, and Mukesh Bansal, the co-founder of Myntra.

Industry Outlook

Experts are of the opinion that the changes in the Indian trade ecosystem will have the effect of volumes going down for a short while. However, such a situation is only a temporary one and the reforms will eventually lead to a more stable market. India’s semi-urban and urban regions are expected to be penetrated by equity in the long term. As a result, discount brokerages will be in a better position, although they will lose their speculative clientele.

As one of the biggest fintech IPOs in India, Groww’s debut on the stock market will be a moment for the company to showcase its talent in balancing a volatile short-term situation with a long-term growth strategy that will keep investors curious.

FAQ’s

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Read the full article here:  Groww IPO Gets SEBI Nod for $1 Billion — For more updates, visit Wittiya – Top Business News, Stock Market Insights & Financial Updates (Wittiya).

IPOs and FPOs are key ways Indian companies raise capital from the stock market. Understanding their differences, risks, objectives, and potential returns is essential for investors to make informed decisions.

Introduction to IPOs and FPOs

An Initial Public Offering (IPO) is the first time a private company offers its shares to the public to raise capital. IPOs help companies expand operations, repay debt, or invest in growth initiatives. By going public, a firm allows investors to become part-owners and potentially benefit from future profits.

A Follow-On Public Offer (FPO) occurs when a company already listed on a stock exchange issues additional shares to raise funds. FPOs can be:

• Dilutive FPO: Share capital increases as new shares are issued.
  
• Non-Dilutive FPO: Existing shareholders sell shares without increasing total share capital.
  

FPOs are typically considered safer for investors because the company’s financials, management, and market behavior are already visible.

Also Read: The NSE Co-location Scam: When India’s Speed Advantage Turned Controversial

Key Differences Between IPO and FPO

1. Risk and Returns

• IPO: High-risk, high-reward. Investors have limited information about the company, and market sentiment heavily influences pricing. IPOs may deliver substantial gains if the company performs well post-listing.
  
• FPO: Lower risk as the company is already listed. Investors can analyze historical performance, market acceptance, and stock volatility before participating. Returns are typically moderate but more predictable.
  

2. Objective

• IPO: Companies issue shares to raise fresh capital for expansion, debt repayment, or strategic investments. It allows promoters to unlock value in their holdings.
  
• FPO: Can be issued for debt reduction, business expansion, or to enable private shareholders to sell their stake. Some FPOs are structured to strengthen the balance sheet without diluting existing equity too much.
  

3. Performance Track Record

• IPO: Investors rely on prospectuses and limited public information. Market interest, management credibility, and financial health are critical factors in decision-making.
  
• FPO: Investors can study prior stock performance, dividends, and market reception. FPO subscription trends often indicate confidence in the company’s long-term prospects.

Additional Factors for Investors

1. Pricing: IPOs are priced based on valuations, market demand, and growth potential. FPOs are usually priced with reference to the current market price, sometimes at a discount to encourage participation.
   
2. Market Timing: IPO success often depends on timing market cycles, while FPOs can be launched based on specific financial needs or strategic goals.
   
3. Dilution Impact: IPOs increase the total number of shareholders and capital, potentially diluting existing holdings if promoters retain part of the stake. FPOs can dilute equity if new shares are issued, but non-dilutive FPOs avoid this issue.
   
4. Regulatory Oversight: Both IPOs and FPOs in India are regulated by the Securities and Exchange Board of India (SEBI), ensuring transparency, disclosure, and investor protection.

For Indian investors, IPOs are suitable for those seeking high-growth opportunities and are comfortable with risk. FPOs appeal to conservative investors seeking stability and predictable returns. Understanding a company’s fundamentals, past performance, and market environment is essential before participating in either.

Financial experts recommend balancing a portfolio with a mix of IPOs and FPOs to optimize growth potential while managing risk exposure.

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Read the full article here: IPO vs FPO in India: What Every Investor Should Know — For more updates, visit Wittiya – Top Business News, Stock Market Insights & Financial Updates (Wittiya).

SEBI’s investigation into Jane Street reveals the challenges of regulating sophisticated derivatives trading amid growing retail participation in India. $4.23B in trades, $567M flagged, resulting in strict interim action.

India’s capital markets recently witnessed a high-profile regulatory challenge as the Securities and Exchange Board of India (SEBI) faced difficulties investigating Jane Street, a U.S.-based trading firm, for alleged market manipulation in derivatives trading. The probe, which culminated in SEBI barring Jane Street from the Indian market in July 2025, highlighted the complexities regulators face in monitoring highly sophisticated trading strategies amid a surge in retail investor participation.

Background and Early Warnings

According to reports, the National Stock Exchange (NSE) flagged unusual trading patterns by Jane Street as early as November 2023, providing data and analysis to SEBI. These surveillance alerts preceded the formal investigation by more than four months. The information suggested significant activity in derivatives that appeared abnormal relative to market norms, signaling potential manipulation.

Despite these warnings, SEBI’s preliminary investigations were complicated by Jane Street’s complex trading strategies and the unprecedented growth of retail participation in India’s derivatives markets. By March 2024, retail investors, particularly low-income participants, accounted for 76% of derivatives trades, increasing market volatility and adding layers of complexity to regulatory oversight.

Also Read: Jane Street vs. India: The Tax Showdown That Could Set a Precedent

Scale of Operations and SEBI Action

Between January 2023 and March 2025, Jane Street executed trades in Indian derivatives worth $4.23 billion. SEBI alleges that $567 million of this profit constituted “unlawful gains,” citing manipulative practices that allegedly took advantage of market inefficiencies. The regulator’s interim order in July 2025, spanning 105 pages, represents one of the most stringent actions ever taken against a foreign investor in India’s financial markets.

Jane Street, however, denies any wrongdoing, maintaining that its operations constituted basic index arbitrage trading. The firm has deposited the disputed $567 million with SEBI while contesting the allegations, highlighting the challenge regulators face in distinguishing aggressive trading from manipulative intent.

Regulatory Challenges and Market Implications

Former SEBI officials note that proving market manipulation requires demonstrating not only market impact but also intent. This high evidentiary threshold complicates enforcement against sophisticated international trading firms that employ advanced algorithms and high-frequency strategies. SEBI’s challenge reflects broader concerns about maintaining fair market practices while fostering the growth of India’s derivatives ecosystem.

Also Read: Jane Street’s Market Manipulation in India – Simplified For Everyday Indian Investors

Experts highlight that the case underscores the need for enhanced surveillance, improved real-time monitoring, and stronger regulatory frameworks to handle the surge of retail participation and complex trading strategies in India. The Jane Street episode may also influence future policy decisions regarding foreign trading firms, risk management norms, and the expansion of derivatives trading in the country.

India continues to balance attracting global trading firms with safeguarding investor interests, navigating the fine line between market efficiency and regulatory oversight. SEBI’s actions against Jane Street could set important precedents for handling future cases involving sophisticated international traders in India’s rapidly evolving capital markets.

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Read the full article here: SEBI Investigation Reveals Jane Street’s Derivatives Strategy — For more updates, visit Wittiya – Top Business News, Stock Market Insights & Financial Updates (Wittiya).

The week beginning August 11 promises heightened activity in India’s primary markets, with four new IPOs scheduled to open for subscription—two each from the Mainboard and SME segments—alongside five companies set to make their market debut. The offerings span diverse sectors including jewellery, building materials, publishing technology, and real estate, offering retail and institutional investors multiple avenues to participate.

IPO Activity Overview

The domestic equity market is entering a shortened yet eventful week driven by fresh fundraising activity across segments. Investor sentiment remains buoyant, supported by recent strong listing gains and robust subscription numbers in past issues.

Mainboard IPOs

1. BlueStone Jewellery & Lifestyle Ltd.

• IPO Size: ₹1,541 crore
  
• Price Band: ₹492–₹517 per share
  
• Subscription Period: August 11–13, 2025
  
• Offer Structure: Fresh issue of ₹820 crore + OFS of 1.4 crore shares
  
• Anchor Investment: ₹693.3 crore raised on August 8
  
• Sector Outlook: The organised jewellery sector in India is projected to grow steadily, supported by rising disposable incomes, increasing preference for branded ornaments, and expanding online sales channels. BlueStone’s omnichannel model and strong brand recall position it to capture market share in the premium segment.
  

2. Regaal Resources Ltd.

• IPO Size: ₹306 crore
  
• Price Band: ₹96–₹102 per share
  
• Subscription Period: August 12–14, 2025
  
• Sector Outlook: Operating in the maize-based products segment, Regaal Resources caters to industries such as food processing, pharmaceuticals, and animal feed. Rising demand for plant-based raw materials and value-added derivatives could bolster its growth prospects.
  

Closing This Week:

• JSW Cement Ltd. – A diversified building materials manufacturer, tapping the market for expansion funding and debt reduction.
  
• All Time Plastics Ltd. – Specialises in household plastic products with growing export exposure.
  

SME IPOs

1. Icodex Publishing Solutions Ltd.

• IPO Size: ₹42 crore
  
• Price Band: ₹98–₹102 per share
  
• Subscription Period: August 11–13, 2025
  
• Business Focus: Offers software solutions, e-publishing, and content digitisation services, catering to global clients. The company aims to leverage its tech expertise to tap emerging opportunities in AI-assisted publishing.
  

2. Mahendra Realtors & Infrastructure Ltd.

• IPO Size: ₹49.5 crore
  
• Price Band: ₹75–₹85 per share
  
• Subscription Period: August 12–14, 2025
  
• Sector Insight: The SME real estate segment is witnessing increased investor attention, driven by rapid urbanisation and government initiatives supporting affordable housing.
  

Closing This Week:

• Sawaliya Foods Products Ltd. and Connplex Cinemas Ltd. – Subscription closes on August 11.
  
• Star Imaging & Path Lab Ltd., Medistep Healthcare Ltd., and ANB Metal Cast Ltd. – Subscription closes on August 12.
  

Upcoming Listings

The listings pipeline is equally active:

• Mainboard: Highway Infrastructure Ltd. lists on August 12, followed by JSW Cement and All Time Plastics on August 14.
  
• SME: Sawaliya Foods Products and Connplex Cinemas debut on NSE Emerge from August 14.
  

Also Read: Highway Infrastructure IPO Accelerates with 15x Day-One Demand

IPO Calendar – August 11–14, 2025

Market Dynamics and Investor Outlook

The surge in IPO activity reflects a favorable environment for capital raising. The benchmark indices remain near record highs, providing companies with an attractive window to tap the markets. Investor appetite is supported by:

• Recent listing premiums that have outperformed grey market expectations.
  
• Sectoral diversification of offerings, giving investors options across consumer, industrial, and tech segments.
  
• Strong retail participation, aided by simplified application processes through UPI.
  

However, analysts caution that valuations in certain IPOs are at the higher end of their historical ranges, requiring investors to assess fundamentals alongside listing prospects.

With the primary market calendar packed and investor sentiment upbeat, the coming days will test the depth of market liquidity. For retail and institutional participants alike, this week’s IPO lineup offers both short-term trading opportunities and potential long-term investment stories.

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Read the full article here: IPO Week: Dalal Street Gears Up for Four Public Issues and Five Listings — For more updates, visit Wittiya – Top Business News, Stock Market Insights & Financial Updates (Wittiya).

SEBI Chairman Tuhin Kanta Pandey has dismissed media reports about a possible curb on weekly expiry contracts as “false and speculative.” His clarification triggered a rebound in capital market stocks, especially BSE, which fully recovered intraday losses.

The Indian equity market witnessed a swift rebound on August 6 after Securities and Exchange Board of India (SEBI) Chairman Tuhin Kanta Pandey dismissed reports of any regulatory move to curb weekly expiry options. The clarification restored investor confidence and helped capital market-linked stocks recover from sharp intraday losses.

Earlier in the day, shares of BSE had dropped to an intraday low of ₹2,282. However, following the SEBI Chairman’s public comment, the stock reversed losses and was up 1% at ₹2,403 by 12:20 PM. Other players such as Angel One, CAMS, and Motilal Oswal Financial Services also rebounded, reflecting market-wide relief.

The Nifty Capital Markets Index, which was down as much as 1.5% during early trade, returned to positive territory post clarification.

This reaction comes in the wake of speculative reports suggesting that SEBI and the Ministry of Finance were discussing structural reforms in the derivatives market, including the potential replacement of weekly expiry contracts with fortnightly or monthly expiries to address excessive speculation.

While such a change could reduce speculative volumes in index options and potentially strengthen the cash market, the report was categorically denied by the SEBI chief as “false and speculative.”

Also Read: RBI Maintains Repo Rate at 5.5%: Full Breakdown and Implications

The Indian derivatives market has grown exponentially, often witnessing index options turnover exceeding the cash market by a factor of 350 on expiry days. Recent data from SEBI’s July 7 study shows an increasing trend in retail investor participation in F&O segments over the last two years, despite a notable decline in the last fiscal year. However, the data also highlighted serious concerns:

• 91% of retail F&O traders ended in losses
  
• Net trader losses widened by 41% year-over-year to ₹1.05 trillion in FY25
  
• Smaller traders (turnover < ₹1 lakh) saw the steepest decline
  

In this context, SEBI’s internal assessments and recent public commentary suggest the regulator is evaluating long-term structural improvements to derivatives markets, including promoting longer maturity instruments and potentially revisiting cost structures like margins and transaction taxes.

While no immediate changes are being implemented, the incident underlines the market’s heightened sensitivity to potential regulatory actions in the derivatives space.

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Read the full article here: No Change to Weekly Expiry, Confirms SEBI; BSE Recovers Fully — For more updates, visit Wittiya – Top Business News, Stock Market Insights & Financial Updates (Wittiya).

India’s Securities and Exchange Board (SEBI) has proposed significant changes to related party transaction (RPT) norms under LODR regulations. The proposed amendments include raising the shareholder approval threshold to ₹5,000 crore and removing disclosure requirements for transactions below ₹15 crore. The aim is to ease compliance while strengthening transparency and corporate governance for listed companies in India.

The Securities and Exchange Board of India (SEBI) has put forward substantial regulatory reforms to ease the compliance burden related to Related Party Transactions (RPTs) under the Listing Obligations and Disclosure Requirements (LODR) framework. As per a consultation paper released on Monday, SEBI proposes increasing the shareholder approval threshold from ₹1,000 crore to ₹5,000 crore for transactions involving related parties.

The proposed amendment means only transactions above ₹5,000 crore or 10% of a listed entity’s consolidated annual turnover (whichever is lower) would need shareholder consent. Smaller transactions will be exempted from this requirement, streamlining corporate operations and reducing procedural delays.

Additionally, SEBI has proposed removing the requirement to disclose RPTs valued below ₹15 crore. This would significantly reduce disclosure obligations for low-value transactions that do not materially impact financial or governance outcomes, easing compliance particularly for mid-sized firms.

A corporate governance expert said, “These proposed revisions reflect SEBI’s intent to make regulations more proportionate and focused. While easing compliance for companies, the changes maintain high governance standards for larger, more impactful transactions.”

Also Read: The Vanishing Indian Investor: Why India’s Middle Class Is Retreating from Markets
— And What 2 Million Lost Investors Reveal About the Nation’s Growing Economic Anxiety

Graded Disclosure Framework Introduced in 2025

In February 2025, SEBI introduced a graded disclosure framework for RPTs, requiring listed entities to classify transactions based on their materiality. Depending on thresholds tied to turnover, net worth, or profit/loss, entities must provide comprehensive, limited, or minimum information when presenting RPTs to the audit committee or shareholders.

The disclosures must include transaction value, rationale, historical records, valuation reports, and statements by the audit committee. This framework ensures adequate scrutiny of high-risk transactions while preventing over-disclosure of immaterial ones.

SEBI’s RPT Portal Improves Transparency

In a further move to promote regulatory transparency, SEBI launched a dedicated RPT analysis portal in July 2025. The portal standardizes how listed companies disclose and report RPTs, improving public oversight.

The portal enables investors, analysts, and stakeholders to access structured data regarding the nature, frequency, and scale of related party transactions. This step supports SEBI’s broader objective of strengthening corporate governance by making such transactions easier to monitor and evaluate.

SEBI’s proposals are currently open for public consultation. Final guidelines will be shaped based on stakeholder feedback, with the aim of aligning regulatory norms with evolving business needs while upholding governance integrity.

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Read the full article here: What SEBI’s New RPT Guidelines Mean for Listed Companies — For more updates, visit Wittiya – Top Business News, Stock Market Insights & Financial Updates (Wittiya).

U.S.-based hedge fund Jane Street has been granted permission by India’s market regulator to resume trading on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), nearly three weeks after being barred due to allegations of market manipulation. The permission comes with strict conditions set by the Securities and Exchange Board of India (SEBI), including the deposit of over ₹4,843 crore in an escrow account and heightened regulatory surveillance

India has permitted U.S.-based quantitative trading firm Jane Street  to resume operations on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) beginning Tuesday, following nearly three weeks of suspension over allegations of market manipulation in index derivatives. The move comes after the Securities and Exchange Board of India (SEBI) issued a clarification late Monday, allowing the firm’s re-entry under strict conditions.

The regulatory relief was granted after Jane Street deposited ₹4,843.5 crore (approximately USD 580 million) into an escrow account, fulfilling a key requirement under SEBI’s interim order issued on July 3. This deposit is intended to safeguard the alleged gains from leaving the Indian jurisdiction while investigations continue.

Also Read: Jane Street Axed—NSE Bleeds ₹129 Lakh Crore in One Week

Jane Street had been accused of exploiting arbitrage opportunities across Nifty and Bank Nifty index options to make gains worth ₹43,289 crore between January 2023 and March 2025. SEBI’s interim order had barred four of its entities from participating in any trade that resembled manipulative practices.

Following the new directive, Jane Street has been permitted to participate in trading activities across both exchanges, including in the high-volume index options segment, on the condition that it refrains from any actions that could be interpreted as manipulative or fraudulent.

The exchanges have been directed to closely monitor Jane Street’s trades and positions. Notably, only a subset of the firm’s entities was active on BSE, but all relevant units are now cleared to operate under heightened surveillance.

Also Read: Jane Street Deposits ₹4,843 Cr in Escrow, Requests SEBI to Lift Ban

In its official communication, SEBI stated that “Jane Street entities have confirmed compliance with all required stipulations.” The regulator reiterated that the firm must cease and desist from any activity in breach of its regulations, even as its broader investigation continues. A final regulatory decision may still take several months.

On the market front, shares of BSE Ltd rose by nearly 3% to ₹2,521.3 on Monday ahead of the SEBI update, while unlisted shares of NSE saw gains between 2.5–5%. Investor sentiment appears cautiously optimistic as the reinstatement signals regulatory confidence in managing high-frequency global players under India’s tightening compliance framework.

The episode underlines SEBI’s evolving regulatory posture, balancing openness to foreign capital with strong enforcement against market irregularities. Jane Street’s return to Indian capital markets will now serve as a litmus test for regulatory compliance in India’s growing index derivatives segment.

Read the full article here: Jane Street Resumes Trading: SEBI’s Conditions Explained — For more updates, visit Wittiya – Top Business News, Stock Market Insights & Financial Updates (Wittiya).

As the Securities and Exchange Board of India’s (SEBI) July 31, 2025 deadline for NSDL to go public nears, comparisons between National Securities Depository Limited and its listed rival CDSL intensify. While NSDL leads in asset custody and issuers, CDSL dominates the demat account space and has surged 44% in the stock market over the past year.

With the Securities and Exchange Board of India (SEBI) setting July 31, 2025 as the deadline for National Securities Depository Limited (NSDL) to go public, investor curiosity has intensified over how India’s first and largest depository compares to its listed peer, Central Depository Services (India) Limited (CDSL).

NSDL, headquartered in Mumbai, Maharashtra, was established in 1996 as India’s first depository, enabling investors to hold and transfer securities electronically. In contrast, CDSL, also Mumbai-based, entered the market in 1999 and became the first depository in India to go public in 2017.

While NSDL’s IPO launch date remains unclear, unlisted shares of NSDL have seen a sharp correction of nearly 20% from their 52-week highs. On the flip side, CDSL has rallied by 44% over the past year on the stock exchange, reflecting strong investor sentiment.

Here’s a breakdown of the major differences between the two depositories:

1. Market Position

As per a CRISIL report, NSDL remains India’s largest depository in terms of the number of issuers, active instruments, demat value settlement volumes, and asset custody. As of December 31, 2024, NSDL had 64,535 issuers, double that of CDSL’s 31,557.

2. Depository Participants

CDSL leads in terms of registered depository participants (DPs), but NSDL handles a larger value of securities held in demat form.

3. DP Service Centres

NSDL outpaces its competitor with 63,542 DP service centres (DPSC), significantly more than CDSL’s 17,883 as of the first three quarters of FY25.

4. Demat Accounts

CDSL holds the edge in retail reach with 14.65 crore active demat accounts, while NSDL had 3.88 crore as of December 31, 2024.

5. Value of Assets Held

In terms of value, NSDL dominates. The average asset value per demat account at NSDL is Rs 1.25 crore, compared to Rs 5 lakh per account at CDSL.

6. Unlisted Segment Leader

NSDL is also ahead in the unlisted securities domain, with 53,169 unlisted companies under its umbrella versus CDSL’s 21,295.

As the IPO deadline looms, NSDL’s size and asset dominance position it as a key player in India’s financial infrastructure. However, CDSL’s retail penetration and stock performance have made it a favorite among investors. With regulatory clarity expected soon, market participants remain keenly focused on NSDL’s next move.

Read the full article here: IPO Clock Ticking: Should You Trust NSDL or Bet on CDSL? — For more updates, visit Wittiya – Top Business News, Stock Market Insights & Financial Updates (Wittiya).

The National Stock Exchange (NSE) in India witnessed a sharp 21% decline in its derivatives turnover on 10 July 2025, following the Securities and Exchange Board of India’s (SEBI) interim ban on U.S.-based trading firm Jane Street. The drop highlights the market’s dependence on the firm’s high-volume, allegedly manipulative strategies, which SEBI claims distorted the BANKNIFTY index and generated unlawful gains exceeding ₹36,000 crore.

The National Stock Exchange of India (NSE), headquartered in Mumbai, Maharashtra, recorded a significant 21.29% decline in derivatives turnover on 10 July 2025, following regulatory action against high-frequency U.S.-based proprietary trading firm Jane Street. The plunge exposes the Indian derivatives market’s strong reliance on Jane Street’s aggressive trading strategies.

The total turnover in the NSE’s derivatives segment fell to ₹476.39 lakh crore on 10 July, down from ₹605.23 lakh crore on 3 July—a day before the Securities and Exchange Board of India (SEBI) issued an interim order restraining Jane Street from operating in Indian securities markets.

The regulator accused Jane Street of executing trades that manipulated the BANKNIFTY index—a benchmark composed of 12 major Indian bank stocks—through unauthorized proprietary strategies such as Intraday Index Manipulation and Extended Marking the Close.

According to SEBI’s order, the number of derivative contracts traded on 10 July also dropped by 21%, falling to 25.25 crore from 31.92 crore a week earlier. The drop in turnover was primarily due to a 21.4% fall in weekly index options trading, which dipped to ₹472.54 lakh crore from ₹601.24 lakh crore.

SEBI’s investigation revealed that between January 1, 2023, and March 31, 2025, Jane Street made profits of ₹43,289.33 crore in index options while incurring losses of ₹7,687.21 crore in other segments, resulting in a net profit of ₹36,502.12 crore. The highest single-day profit of ₹734.93 crore was recorded on January 1, 2024.

SEBI has directed the impounding of ₹4,843.57 crore, believed to be unlawfully earned. This sharp regulatory move and the resulting market reaction have raised questions about oversight, liquidity dependency, and systemic risk in India’s rapidly growing equity derivatives market.

With Jane Street barred, experts warn that NSE’s derivatives turnover could fall further in the coming weeks, prompting urgent calls for deeper reforms in market infrastructure and trading practices.

Also Read: Jane Street’s Market Manipulation in India - Simplified For Everyday Indian Investors

Read the full article here: Jane Street Axed—NSE Bleeds ₹129 Lakh Crore in One Week — For more updates, visit Wittiya – Top Business News, Stock Market Insights & Financial Updates (Wittiya).