The Securities and Exchange Board of India (Sebi) on Wednesday introduced a mechanism to strengthen compliance with lock-in requirements for pledged shares. Under the revised framework, securities that cannot be locked in through existing systems will be marked as “non-transferable” by depositories for the duration of the stipulated lock-in period. Experts said the move will plug a key regulatory gap by ensuring that promoters and pre-IPO shareholders cannot circumvent lock-in norms through pledging arrangements.
Bonus proposal sends LIC stock soaring
Shares of Life Insurance Corporation of India (LIC) surged nearly 7 per cent on Wednesday, a day after the state-owned insurance major said it will consider a bonus issue. The company’s board is scheduled to meet on April 13 to deliberate on the proposal. The stock ended at ₹794, up 6.8 per cent, taking LIC’s market capitalisation to ₹5.02 trillion. While a bonus issue does not alter the company’s fundamentals, it improves affordability for retail investors and typically enhances liquidity in the counter.
IFSCA cancels broker-dealer licence in first such action
In a first such enforcement action, the International Financial Services Centres Authority (IFSCA) has cancelled the registration of broker-dealer String AI IFSC (formerly King Blockchain) for alleged regulatory violations. In an order dated April 6, the GIFT City regulator cited multiple lapses, including inadequate infrastructure, engagement in activities beyond permitted securities and commodity derivatives business, and failure to furnish required documents and clarifications despite repeated follow-ups. The violations were detected during surprise inspections carried out in 2024. Following earlier warnings, IFSCA issued a showcause notice to the entity in December 2025.
First Published: Apr 08 2026 | 11:18 PM IST