Asset manager Indiabulls AIF, along with five other parties, have settled allegations concerning breaches of established regulations
The Securities and Exchange Board of India (SEBI) is expediting Initial Public Offering (IPO) approvals, as Indian companies aim for a record-breaking capital raising spree. This move comes as SEBI has simplified foreign investor entry and reduced the minimum size for large IPOs, making it easier for companies to secure capital.
In a significant development, SEBI's High-powered Advisory Committee suggested the settlement of a case involving the Alternative Investment Fund (AIF) India Bulls AIF. The AIF, along with its asset manager India Bulls Asset Management Company, two of its schemes (India Bulls Real Estate Fund and India Bulls Dual Advantage Real Asset Fund), and individuals Ambar Maheshwari, Amit Jain, and Parth Muria, were accused of seven violations. These included pledging India Bulls Dual Advantage Real Asset Fund's assets to secure a loan, misrepresenting financial information, and exceeding regulatory limits on concentration in an investee company.
SEBI's showcause notice listed four other allegations: failing to drawdown an equal percentage of commitment, failing to ensure proper valuation frequency, failing to comply with a deficiency letter, and submitting inaccurate information in the compliance test report. The settlement order was issued by SEBI on September 17, 2025, following the recommendation approved by SEBI's panel of whole-time members in August 2025. The AIF agreed to settle the allegations by paying Rs 1.43 crore (around $160,000).
Meanwhile, SEBI has granted approval for IPOs to PE-backed companies such as Pine Labs, Hero Motors, and MTR parent Orkla. This approval is part of SEBI's efforts to bolster the Indian capital market and provide opportunities for companies to raise funds.
In a separate development, the Securities Appellate Tribunal has asked SEBI to respond to Jane Street's appeal. The details of the appeal are not yet disclosed.
Additionally, SEBI has set limits on Limited Partner (LP) co-investments to prevent indirect control of portfolio firms. This move is aimed at maintaining fairness and transparency in the investment process.
The seven entities filed a settlement application with SEBI in November 2024. However, the organization that submitted the establishment application to SEBI for these seven entities on September 17, 2024, remains unidentified in the provided search results.
This article offers a brief overview of the recent developments in the Indian capital market, focusing on SEBI's initiatives and ongoing cases. For more detailed information, please refer to the official SEBI website or consult a financial advisor.
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