Two important events from last week fit perfectly into Friction’s universe of corporate governance.
On Wednesday, the Securities and Exchange Board of India issued a discussion paper (surprisingly low on details) to review “ownership and governance” of stock exchanges and depositories.
On Saturday, Anil Agarwal-helmed Vedanta Ltd announced an open offer by its parent to acquire a 10% stake from public shareholders at a discount of 12% to the stock’s prevailing market price. Clearly, despite last year’s drama of a failed delisting and minority investors crying foul, nothing can deter the company from its chosen path of acquiring its shares …
Jayshree is a former writer at The Morning Context. As journalist, she had nearly a decade of experience across Mint, Business Standard and Bloomberg TV India. The bulk of her career has been devoted to tracking the capital markets regulator, exchanges, regulatory policies, financial scams and corporate governance issues. One of her biggest breaking stories was her incisive coverage of the colocation scam which put the lapses at NSE in the public domain.
jayshree@mailtmc.com