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Sebi asks stock exchanges to provide QIP details online

Sebi asks stock exchanges to provide QIP details online
PTI
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First Published: Fri, Mar 05 2010. 06 13 PM IST
Updated: Fri, Mar 05 2010. 06 13 PM IST
Mumbai: Market regulator Sebi on Friday directed stock exchanges to provide all details related to shares allotted to institutional investors through QIP route on their websites.
“Ensure that the details of those allottees in qualified institutional placements (QIP) who have been allotted more than 5% of the securities offered in the QIP, viz names of the allottees and number of securities allotted to each of them, pre and post issue shareholding pattern of the issuer ... shall be made available on the website of stock exchanges,” Sebi said in a circular.
The order, the Securities and Exchange Board of India (Sebi) said, would come into effect immediately.
“This circular is issued ... to protect the interest of investors in securities and to promote the development of, and to regulate the securities market,” it said.
Stock exchanges would also be required to communicate to Sebi the status of implementation of the requirements of this circular in the next monthly development report, it added.
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First Published: Fri, Mar 05 2010. 06 13 PM IST