Business Briefs

Sebi introduces mechanism for lock-in of pledged shares

New Delhi: Capital markets regulator Sebi has introduced a mechanism for the lock-in of pledged shares in a bid to streamline requirements related to public issues. Under the new framework, Sebi has allowed depositories to mark certain securities as “non-transferable” for the duration of the lock-in period in cases where a conventional lock-in cannot be created, according to a circular issued on Wednesday. The move follows an amendment to the Sebi (Issue of Capital and Disclosure Requirements) Regulations, 2018 (ICDR Regulations) through a notification dated March 21. To operationalise the mechanism, depositories have put in place a framework requiring issuers to incorporate suitable provisions in their Articles of Association, inform lenders or pledgees, and make appropriate disclosures in offer documents, Sebi said.

‘India’s natural diamond market may reach Rs 1.5 lakh cr by 2030’

Mumbai: The Indian natural diamond jewellery market is expected to reach Rs 1,50,000 crore by 2030, aided by robust macroeconomic fundamentals and evolving consumer trends, De Beers Group said in a report on Wednesday. Supported by robust macroeconomic fundamentals, including a projected 11 per cent annual growth in GDP and personal disposable income (PDI) through 2030, the Indian natural diamond jewellery market is entering a high-growth phase.