Business
Sebi to revamp MF nomination
New Delhi: Markets regulator Sebi on Friday issued guidelines to revamp the nomination process for mutual fund folios and demat accounts to enhance transparency and minimise unclaimed assets in the securities market.
The new norms will come into effect from March 1 and cover a range of measures for investors and regulated entities, including asset management companies (AMCs).
Sebi) emphasised that these reforms came from extensive consultations with stakeholders, including a public consultation paper floated in Feb 2024.
NEW DELHI: Mumbai-based EMA Partners India on Saturday said it is looking to raise Rs 76 crore on the NSE’s Emerge platform through an initial public offering, which will open for public subscription on January 17. The issue with a price band of Rs 117-124 apiece will conclude on January 21. The bidding for anchor investors will open for a day on January 16, the company said in a statement.
At the upper end of the price band, the company will raise about Rs 76.01 crore.
The shares of the company are proposed to be listed on the Small and Medium Enterprises (SME) platform of NSE Emerge. Investors can bid for a minimum of 1,000 shares and in multiples thereof, it added.
The initial public offering (IPO) is a fresh issue of up to 53.34 lakh equity shares, aggregating up to Rs 66.14 crore and an offer for sale component of up to 7.96 lakh shares by promoters — Krishnan Sudarshan and Subramanian Krishnaprakash, according to the red herring prospectus (RHP) filed on January 9.
Shekhar Ganapathy, a public shareholder, will also offload shares in the company.
The promoters and promoter group of EMA Partners own an 86.14 per cent stake, while public shareholders hold 13.86 per cent.
As per the RHP, the company will utilise proceeds towards augmenting the leadership team for the company and its subsidiaries, capital expenditure towards upgrading the existing IT infrastructure and debt repayment.
Funds will also be used for general corporate purposes and unidentified inorganic acquisitions.
EMA Partners India Ltd claims to be one of the leading executive search firms delivering customised leadership hiring solutions to a wide range of clients across diverse sectors. The company has recruited several business and functional leaders for domestic and international clients.
The company, along with its subsidiaries, including James Douglas Professional Search India and MyRCloud, cover the entire spectrum of white-collar hiring right from entry-level opportunities to senior leadership.
Incorporated in September 2003 as Executive Management Associates India Pvt Ltd by Krishnan Sudarshan (Chairman and MD) and Subramanian Krishnaprakash. Later, the company was renamed as EMA Partners India.
Indorient Financial Services is the sole book running lead manager while Bigshare Services is the registrar for the IPO.
NEW DELHI: India logged a record high renewable energy capacity addition of about 30 GW in 2024, more than 113 per cent higher than 13.75 GW recorded in 2023, according to the Ministry of New & Renewable Energy data. This assumes significance in view of India’s ambitious plan to have 500 GW of renewable energy capacity in the country by 2030.
Besides, India needs to add an average of 50 GW of renewable energy capacity per annum over the next six years to achieve its target.
“Exponential growth from 13.75 GW in 2023 to around 30 GW in 2024, resulting in achieving nearly 218 GW now underscores India’s growing commitment to clean energy and its progress in building a greener future,” New & Renewable Energy Minister Pralhad Joshi said in a post on X.
According to the ministry data, India had 35.84 GW of renewable energy capacity as of March 31, 2014.
Since the fiscal year 2014-15, when the NDA government took the reins at the Centre, India recorded the highest renewable capacity addition of 18.48 GW in 2023-24.
The government is eyeing adding 50GW of renewable energy capacity addition per annum to achieve its target of 500GW by 2030.
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