Millennium Post

Sebi, exchanges’ surveillance on high Alert

Markets regulator Sebi and stock exchanges have put their surveillance systems on ‘high alert’ in view of the government’s estimated Rs 24,000 crore mega share sale in Coal India on Friday. “The surveillance activities have been stepped up significantly and all systems are on high alert to thwart any manipulative activities in the market in view of the proposed Offer For Sale of state-run Coal India Ltd,” a source said.

Besides being the country’s biggest public offer, which would be undertaken in a single day, the upcoming Coal India issue also assumes significance in the wake of shares worth up to Rs 4,800 crore being reserved for retail investors. These investors will also get a 5 per cent discount.

There are also concerns about manipulative activities following trends witnessed with regard to some other disinvestment share sales.
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