The Securities and Exchange Board of India (Sebi) is asking companies planning initial public offers (IPOs) to remove director nomination rights provided to promoters and investor shareholders from the articles of association.
While all other special rights held by shareholders cease to exist when a company goes public, the right to nominate directors to the board had thus far been allowed by Sebi
Utkarsh Small Finance Bank, the fifth small finance bank to be listed, has launched an initial public offer of INR5bn ($66m). The funding will enable the bank to expand its business over the next two years, according to managing director Govind Singh. The shares are priced at between INR23 and INR25, with a face value of INR10. Jana and Fincare are among other small finance banks looking to raise equity via a public offering.
Abler Nordic is the new name of Nordic Microfinance Initiative, a public-private partnership investing in financial inclusion companies globally, with a strong presence in India. The new name was launched locally at an event in New Delhi on February 6 by Managing Director Arthur Sletteberg, along with an announcement on the start of fundraising in 2023 for Abler Nordic's latest fund.
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