Business News

Market regulator Securities and Exchange Board of India (Sebi) is considering making changes in the eligibility criteria for an SME company looking to list on the exchanges via initial public offering (IPO). It has sought a public feedback on the proposal to add promoter group in regulations that restrict the IPO issuer if its promoters or directors are debarred from accessing capital market.Sebi said that when issuer companies proposed to be listed on SME IPO are closely held by Promoter & Promoter group and the business is being handled by the Promoter as well as Promoter group, any action against promoter group members may also have significant bearing on the issuer.The proposal is a part of a consultation paper floated by Sebi on Tuesday where the market regulator intends to tighten rules around the launch of SME IPOs in a bid to protect retail investors. “An issuer shall not be eligible to make an initial public offer: (a) if the issuer, any of its promoters, promoter group or directors or selling shareholders are debarred from accessing the capital market by the Board; (b) if any of the promoters or directors of the issuer is a promoter or director of any other company which is debarred from accessing the capital market by the Board; (c) if the issuer or any of its promoters or directors is a wilful defaulter or a fraudulent borrower. (d) if any of its promoters or directors is a fugitive economic offender,” the proposed rule says.The current rule does not include promoter group and only bars company's promoters or directors (are also promoters or directors of any other company), wilful defaulter or fraudulent borrower or fugitive economic offender.The consultation paper also seeks feedback on a proposal to have a 2 year cooling off period before SME IPO for a company formed after conversion from Limited Liability Partnership or from Partnership firm.Also, Sebi sought opinion on whether there should be a 2 year cooling off period before SME IPO for a company if there is a change of promoter(s) or new promoter(s) have come after the acquisition of more than 50% shareholding prior to filing of draft offer document.The regulator is also considering a proposal to raise the application size of IPOs of small and medium companies to up to Rs 4 lakh on account of the sharp rise in the market size and with a view to protect smaller retail investors.Also Read: SME IPO: Sebi mulls doubling application size up to Rs 4 lakh, floats consultation paper(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

The IPL is the most thrilling when the finishers, often the all-rounders come out to bat, or even get you the breakthroughs when you need them the most. At the mega auction, too, all-rounders are all set to take the centre stage with all 10 franchises eyeing to load their berths with the best in the business. Scheduled for November 24, the auction is set to feature an intriguing mix of emerging stars, seasoned campaigners, and utility all-rounders, a category that often becomes the focus of bidding wars. This year's auction promises plenty of drama, with players like Glenn Maxwell, Liam Livingstone, and Marcus Stoinis headlining the all-rounder pool. These players, known for their consistent performances in the 2024 season, are likely to command hefty price tags as franchises aim to secure proven match-winners.IPL Auction: Here are the top 10 all-rounders to watch out for Liam LivingstoneEven though Livingstone failed to dazzle in IPL 2024 with his explosive batting for Punjab Kings, amassing just 111 runs at a staggering strike rate of 142.31, he will be key in the forthcoming auctions. His spin-bowling added an extra edge, making him a reliable middle-order finisher and a handy bowler on slow pitches.Glenn MaxwellMaxwell's IPL 2024 season with Royal Challengers Bangalore saw him scoring just 50+ runs, making it a dull outing. However, off-late, the Aussie's performance against Pakistan and achieving the 10,000 T20 runs milestone has kept him the list of 'capable to bag big bucks'. His off-spin also a crucial role, often breaking key partnerships in crunch moments.Marcus StoinisStoinis starred for Lucknow Super Giants in IPL 2024, contributing with 388 runs and 4 wickets. His ability to deliver under pressure makes him a captain’s go-to player in both batting and bowling departments.Harshal PatelHarshal was instrumental for Punjab Kings in IPL 2024, picking 24 wickets with his deceptive slower balls. His lower-order hitting adds valuable runs, solidifying his reputation as a dependable all-rounder. In the previous auctions, Patel became the most expensive Indian player, being sold for RS 11.75 crore.Ravichandran AshwinAshwin, representing Rajasthan Royals, took 9 wickets in IPL 2024 while maintaining an economy under 9. His ability to score crucial runs in tight games makes him an invaluable asset.Wanindu HasarangaHasaranga was ruled out of the entire 2024 IPL season due to his injury. However, he has often proved to be a match-winner for Sri Lanka in international cricket and his cameos with the bat further bolster his profile as a top-tier all-rounder.Rachin RavindraThe Kiwi sensation turned heads in IPL 2024 with Chennai Super Kings, scoring 222 runs at an average of 22.20 and strike rate of 160.87. His composure and adaptability make him a sought-after young talent.Mitch MarshMarsh, too, picked up an injury in the previous IPL season while playing for Delhi Capitals. However, in the shortest format, Marsh's consistent performances for Australia solidify his place as one of the most impactful all-rounders, something the franchises will eye for.Shardul ThakurThakur may not have impressed with Chennai Super Kings last season, having taken just 5 wickets and scoring mere 21 runs in IPL 2024. Nonetheless, his ability to deliver match-winning performances makes him a hot property in the auction.Marco JansenWhile he was part of the Sunrisers Hyderabad (SRH) team last season, he struggled to secure a consistent spot. However, his recent performance in a series against India has turned heads. Jansen showcased his skills with both bat and ball, making him an attractive prospect for IPL teams. His improved bowling and powerful batting could see him utilized as a versatile player, potentially even as a finisher.115446411