Just Dial Offers "Safety Net" Scheme With Its IPO

Just dial offers safety net scheme with its IPO
May 22nd, 2013
Just Dial will adopt a scheme Safety Net for retail investors investing in its Rs 900-crore IPO (Initial Public Offering). Just Dial offering safety net provision along with a10% discount on the issue price when many companies had offered only 5% discount in past. What is Safety Net scheme? Safety Net is a scheme where the company promoters assure that they will buy back shares from the retail applicants at the IPO price, if its stock falls sharply during the first six months after listing. It was proposed by the market regulator SEBI in 2012. Sebi had put out draft norms for safety net after its study showed that 62% of 117 companies listed between 2008 and 2011 fell below IPO price within the first six months of listing. The regulator could not make it mandatory after the proposal the first of its kind anywhere in the world met with strong criticism from investment bankers. The buy back under safety net will trigger if volume-weighted price of the share for the previous 60 days on completion of the safety net period of six months is below the allotment price for retail applicants. As of now, it is not mandatory for companies to provide safety net. MP government conferred Lata Mangeshkar Samman Alankaran 2013 to Hariharan
May 22nd, 2013
The MP government has conferred the 28 th Annual Lata Mangeshkar Samman Alankaran 2013 on famous playback singer Hariharan. Hariharan is also the recipient of the Padma Shri. He gave his voice to various songs in different languages including Hindi, Telugu, Bhojpuri, Malayalam, Tamil, Kannada and Marathi. Lata Mangeshkar Samman Alankaran Instituted by Madhya Pradesh government in 1984. The award is conferred upon to the music composer and singer alternately. Music composer Naushad was the first to receive this award.
Arunima Sinha becomes First Indian Amputee to conquer Mt Everest

May 22nd, 2013
Arunima Sinha, a former national level volleyball player who lost one of her legs after being thrown off a moving train of Padmawati Express for resisting a chain-snatching attempt by some criminals, has become the first Indian amputee to conquer Mt Everest. She received training at the Tata Steel Adventure Foundation (TSAF) camp in Uttarkashi last year under the guidance of Bachendri Pal, the first Indian woman to conquer Mt Everest. India-China sign eight agreements
May 22nd, 2013
India and China inked eight agreements to enhance cooperation in a range of areas including trade, culture and water resources. The agreements were signed after delegationlevel talks b/w Prime Minister Manmohan Singh and his Chinese counterpart Li Keqiang who is on India visit. Both nations have also set a target to increase the volume of bilateral trade to USD 100 billion by 2015. In 2012, bilateral trade stood at USD 66 billion. Highlights of Eight Agreements: 1. China will make further improvements to the existing facilities for Kailash Mansarovar pilgrims including providing them with wireless sets and local SIM cards. Both sides have agreed to conduct the Yatra every year from May to September. 2. Three working groups will be set up under the Joint Economic Group to enhance trade. The three groups are- Services Trade Promotion Working Group, Economic And Trade Planning Cooperation Group, and Trade Statistical Analysis Group. 3. China will provide information of water level, discharge and rainfall twice a day from June 1st to October 15th each year in respect of three hydrological stations on the mainstream Brahmaputra River. 4. MoU inked b/w Indias Ministry of Water Resources and Chinas National Development and Reform Commission for cooperation in the field of ensuring water efficient irrigation. Its goal is to increase bilateral cooperation in the field of water efficient technology with applicability in the area of agriculture and exchange of best practices. 5. Strengthening mutual cooperation in trade and safety of buffalo meat, fishery products and feed and feed ingredients, and to meet the regulatory requirements with respect to safety & hygiene & quarantine 6. MoU signed to set up a Joint Working Group that will coordinate translation and publication of 25 books of Classic and Contemporary Works of each side over a period of 5 years in to Chinese and Indian languages respectively. 7. Both sides agreed to identify sister cities and sister states/provinces in India and China with a view to establishing relationships b/w them in areas of mutual interest for enhancing greater people to people contacts Contrary to expectations S&P warns of rating downgrade for India from the current grade BBB-
May 22nd, 2013
Giving a shocker to the Indian governments expectations of an upgrade in its sovereign ratings, Standard & Poors (S&P) has done just the opposite by warning of a further downgrade from the current grade BBB- with a negative outlook to Junk status. Government on the other hand was expecting a boost in ratings on account of its strong foreign reserves and incoming foreign investments. Why this step from S&P? S&P wants Indian government to go ahead with the economic reforms at a faster pace. The downgrade will be likely if the government failed to keep pace with the global rating
agencys expectation on reforms and containment of the twin deficits. Despite the fact that S&P acknowledged Indias long-term growth prospects, underpinned by its favourable demographic profile and its high foreign exchange reserves which support the ratings, the countrys large fiscal deficits and debt, as well as its lower middle-income economy are constraints to the ratings. At the same time high fiscal deficits and a heavy government debt burden which remain the most significant constraints on our sovereign rating s on India What is Junk status? Currently India is rated as grade BBB. A further downgrade from BBB - would mean a scale-down to speculative grade or junk status which renders all overseas borrowings by corporates and other entities costlier.

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Just dial offers safety net scheme with its IPO

May 22nd, 2013

Arunima Sinha becomes First Indian Amputee to conquer Mt Everest

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