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Sebi had issued a show-cause notice to the market intermediary in November 2023 regarding alleged four violations found by the regulator in an inspection.
Groww announces safeguards for traders incurring losses
Stock broker Groww on Tuesday announced safeguards and measures to protect F&O traders from potential losses, making it one of the firsts to implement curbs at broker level. The broker has introduced a feature under which a customer repeatedly incurring losses will be asked for additional information to prove ‘suitability’ to continue trading. If the customer fails to provide the information, such as income proof and bank statements, then their F&O trading account will be stopped after thirty days. This safe limit will be different for different users, the broker said. It has also announced other measures to limit the losses or control overtrading.
Gala Precision Engineering IPO to open on September 2
Gala Precision Engineering on Tuesday said it has fixed a price band of Rs 503-529 per share for its Rs 168-crore initial public offering (IPO). The initial share sale will open on September 2 and conclude on September 4, the company announced. The IPO is a combination of a fresh issue of 2.5 million equity shares worth Rs 135.34 crore and an offer for sale of 616,000 equity shares valued at Rs 32.58 crore by promoter group entities and individual shareholders. This aggregates the transaction size to Rs 168 crore at the upper end of the price band of Rs 529.
Premier Energies’ IPO fully subscribed on opening day
The initial public offering (IPO) of solar cell and module manufacturer Premier Energies got fully subscribed on the first day of the subscription on Tuesday. The Rs 2,830-crore initial share-sale received bids for 93,561,699 shares against 44,640,825 shares on offer, according to NSE data. The quota for non-institutional investors got subscribed 5.37 times while the category for retail individual investors fetched 1.81 times subscription.
First Published: Aug 27 2024 | 11:29 PM IST
