/
•
•
Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
Hyderabad-based company leaves out crucial details on promoter holding with zero consequences so far
Editor's note: The tale of Brightcom, its promoters and India's capital markets regulator is a story in three acts. One that reflects poorly on all involved. Act I What would you expect when a promoter group sells 90% of its stock in a company that has seen its share price rise very quickly and is currently under investigation by the securities regulator? At the very least there would be an exodus of investors and the company's shares would tank. Right? Well, the shares of Hyderabad-based digital marketing solutions company Brightcom Group, which is under a forensic audit by the Securities and Exchange Board of India, actually ended up rising. What’s your guess? That investors couldn’t get enough of Brightcom's exemplary growth story, which has already seen the stock move up from less than Rs 10 to Rs 145 in under a year? The answer is simpler. Information about Brightcom’s promoters’ stake sale never made it to websites of the stock exchanges, even though it is a mandatory disclosure for companies. The regulator’s rules explicitly state that if promoters sell their stake or …
The Rs 250 SIP was launched last year by the former SEBI chairperson with one clear goal: financial inclusion. More than a year later, the much-hyped scheme doesn’t seem to have caught on with MF investors.
The central bank’s shift to a 100% collateral requirement threatens to erode leverage, reduce volumes and force a consolidation across prop desks.
While the regulator’s interim order alleges massive irregularities, the long arc of unfinished probes, hearings and appeals makes closure distant.
