Tata Capital settles SEBI matter on CRPS issuance with Rs 14.4 lakh payment
TATACAP · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 0.2 pts less than Nifty 100 and 0.4 pts more than its Non Banking Financial Company (NBFC) peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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SEBI passed a settlement order on Tata Capital for two issuances of Cumulative Redeemable Preference Shares (CRPS) in 2015 and 2017. The shares were down sold to over 200 investors within six months of allotment, making the issuance a deemed public issue, in violation of the Companies Act 2013 and SEBI NCRPS rules. Tata Capital had filed a suo-motu settlement application and paid Rs 14.4 lakh as the settlement amount. The company states there is no material financial impact, and the matter was already disclosed in its IPO offer documents.
Minor: Rs 14.4 lakh settlement already paid, no material financial impact. Already disclosed in IPO documents.