The Securities and Exchange Board of India (Sebi) on Tuesday imposed a total penalty of ₹50 lakh on three former officials of Future Retail Ltd (FRL), including Kishore Biyani for failing to comply with disclosure rules.
Apart from Kishore Biyani, who was chairman and managing director, other top executives of the company penalised by Sebi are former MD Rakesh Biyani and the ex-Chief Financial Officer (CFO) CP Toshniwal, according to an order by Sebi.
PE firms sell 4.71 % stake in Groww
Private equity investors Peak XV Partners, Sequoia Capital, and Ribbit Capital on Tuesday sold shares worth ₹5,326 crore in Billionbrains Garage Ventures, the parent of stock broking platform Groww, through block deals. The investors collectively sold a 4.71 per cent stake, or 295.2 million shares, at ₹180.4 apiece, exchange data showed. The names of the buyers weren’t disclosed. The transaction size was higher than the initially proposed 268.4 million shares. Shares of Groww ended at ₹183 apiece, down 5.5 per cent in secondary market trading on Tuesday.
High demand for Kotak Mahindra AMC’s maiden pvt credit fund
Kotak Mahindra AMC on Tuesday said it has achieved the final close of its maiden private credit alternative investment fund (AIF), with commitments exceeding ₹2,000 crore. According to the company, Kotak Credit Opportunities Fund, a Category-II AIF, has already deployed over 50 per cent of its corpus across diversified sectors and will continue to invest in performing credit opportunities from established corporates and promoters.