Nippon Life India Asset Management Limited has informed the Exchange about Rumour Verification - Regulation 30(11)

Sebi InvestigationConsent Order AcceptedRegulatory & Legal View source PDF

NAM-INDIA · price

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Price reaction · full curve 14 horizons · vs prior close

+3.6%1-day move

₹989.65

prior close

₹996.00

base price

After-mkt

timing

5m10m15m30m1D2D3D4D5D7D15D1M2M3M

-0.3-0.9-0.8-0.9+3.6+3.1+2.1+3.0+6.1+12.1+9.5+10.6+17.9+16.2

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AI summary

Nippon Life India Asset Management has clarified media reports claiming the company is set to settle a case with SEBI regarding its investment in Yes Bank Additional Tier-1 (AT-1) bonds. The Company states that discussions with SEBI regarding a show cause notice (disclosed earlier on September 07, 2024) are strictly confidential under SEBI's Settlement Proceedings Regulations, 2018, and it cannot confirm, deny, or comment on the specific details. The Company says share price movement on April 24 was due to general market trends and the news articles. It reaffirms no material impact requiring disclosure exists at present, and it is cooperating fully with SEBI through legal advisors Regstreet Law Advisors.

Likely market impact

The clarification indicates an active SEBI investigation that could result in a settlement/penalty, but no immediate material impact. The stock may see volatility due to uncertainty around the eventual outcome of the proceedings.