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    Asad Shaikh in News

    08 Mar 07:55 AM


    SEBI bars JM Financial from managing new bond issuances

    SEBI restricts JM Financial from new mandates for bond issuances, allows 60-day extension for debt issues.
    In an interim order on Thursday, SEBI (Securities and Exchange Board of India) has restricted JM Financial from taking on new mandates as a manager for bond issuances.
    However, JM Financial is permitted to continue serving as a lead manager for public debt issues for an additional 60 days, the market regulator said.

    Why SEBI bar JM Financial?
    SEBI has barred JM Financial after a routine examination revealed irregularities in the public issues of Non-Convertible Debentures in 2023.

    Specifically, in a particular case, a considerable number of individual investors sold their allotted securities on the day of listing, leading to an unusual decrease in retail ownership, the interim order said.

    Source - Hindustan Times