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<ul><li>Skoda recently launched the Kylaq SUV, the company’s latest entry-level subcompact SUV.</li><li>The company has announced its plans to launch an electric vehicle in India in 2025.</li><li>The Skoda Enyaq EV’s updated version will debut in India next year.</li></ul>Skoda Auto will roll out its electric vehicle in the Indian market in 2025. In an exclusive interaction with ANI Skoda Auto Brand Director Petr Janeba says Skoda's European bestseller, the Enyaq EV, was initially slated for an Indian debut this year but postponed to next year for an updated version. Janeba says a significant facelift planned for the model in March has led the company to hold off until the new version, featuring Skoda's latest design language, is ready. He said, "We have one of the best-selling EVs in Europe our European Enyaq. The car was tested, and the car was prepared for India. We have actually stopped bringing the car this year. Because there will be a huge facelift of the Skoda Enyaq coming in March following the new design language." He added, "We actually can choose one of the three EV cars coming to India or all three." Skoda is closely monitoring India's changing EV policies, especially the CAFE3 (Corporate Average Fuel Economy) norms set to be introduced in April 2027. On further investment in India Janeba highlighted the importance of a consistent regulatory environment, as state-level EV and hybrid tax policies currently vary widely, impacting long-term planning. "And within this plan, we understand nobody can survive in India without having a deeper localised CKD EV in India. We are ready for this. We are ready in Pune to make another investment for the car and for the production to get it. At the end of the day, we still take our time in order to decide the right measure car for the market, seeing the new competitors coming on the EVs." Said Janeba Skoda already has two manufacturing units in India, in Chhatrapati Sambhaji Nagar and Pune. EVs are planned to be manufactured in their Pune plant For the production, he stated, "In the same factory in Pune, Chakan we will be producing EVs. Currently we have increased because of the Kylaq the production capacity in Pune to 250,000 units a year and we will be increasing further once it is needed either for the current cars because of the export or because of the Indian demand or for the new cars like EVs." The facility is also set to support EV production with deep localisation efforts to make Skoda's electric lineup more affordable for Indian consumers. Piyush Arora, India CEO, Skoda Auto echoed this sentiment, expressing confidence that Skoda's expanded product offerings will capture the growing sub-four-meter SUV segment, a category that represents nearly 30 per cent of India's automotive market. "With the new Kodiaq and other upcoming models, we are aiming for a 5 per cent market share in the medium term," he added. Skoda's commitment to India extends beyond manufacturing. Arora highlighted the company's investment in local engineering talent and its dealer and supplier networks. "Our technical centre in India plays a crucial role in developing products like the Kodiaq, which was fully designed in India," he noted, calling it a testament to India's engineering prowess and the company's long-term vision for the region. With inputs from ANI. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/skoda-kylaq-suv-launched-in-india-starting-at-7-89-lakh/articleshow/115013668.cms">Skoda Kylaq SUV launched in India starting at ₹7.89 lakh</a> <a href="https://www.businessinsider.in/stock-market/webstories/swiggy-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/115004939.cms">Swiggy IPO – GMP, risk factors and all you need to know</a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-ipo-indias-biggest-telco-to-go-public-in-2025-retail-ipo-further-away/articleshow/114944496.cms">Reliance Jio IPO – India’s biggest telco to go public in 2025, retail IPO further away</a>

Skoda plans to launch an updated electric vehicle in India in 2025

<ul><li>The market regulator has tightened some regulations for companies that are launching IPOs to protect investor interest and prevent volatility in stock prices.</li><li>Along with new norms for IPOs, <keyword id="35210" type="General" weightage="20" keywordseo="sebi" source="Orion">SEBI</keyword> has come up with stringent norms for winding up of a mutual fund scheme.</li><li>Check out our <a href="https://www.businessinsider.in/bi-newsletter">weekly explainers</a> on the hottest topics and <a href="https://www.businessinsider.in/newsletters_signup.cms">sign up</a> if you like them.</li></ul>India’s financial markets regulator has come up with a slew of measures to tighten the rules for companies coming out with an initial public offering (IPO) to protect investor interest and prevent volatility in such stocks. The new regulations pertain to change in lock-in period of anchor investors, utilisation of IPO proceeds, restrictions on large shareholdings and a cap on sale of promoter shares via IPO. This comes after shares of several IPOs including Paytm and Zomato facing huge volatility after anchor investors sold shares right after their 30-day lock-in period leading to a huge fall in the share price. Note that the share sale by big institutional investors shakes investors’ confidence, which can lead to hasty selling by investors. Securities and Exchange Board of India (SEBI) is trying to prevent this by increasing the lock-in period to 90 days from 30 days. Anchor investors can only sell 50% of their holding after 30 days. Anchor investors are institutional investors who are allotted shares just before an IPO opens for subscription. The market regulator has also addressed the ongoing trend of promoters selling their entire stake in the company through IPO. When promoters of companies or rather startups that are not doing well financially sell their entire stake in the company, it is bound to shake investor confidence in the IPO. From now, shareholders with over 20% stake can sell only half of its shares through the IPO. Here are the key changes put forward by SEBI: <ul><li>New regulation restricts large shareholders (with more than 20% stake) from selling their entire stake in the company. Now they can only sell half of their overall shareholding.</li><li>Companies can only use 25% of the IPO proceeds for unidentified acquisitions in the draft red herring prospectus (DRHP). This comes after companies not disclosing usage of IPO proceeds in detail.</li><li>Existing lock-in period of 30 days for anchor investors shall continue only for 50% of the holdings, the remaining 50% shares can only be sold after 90 days.</li><li>About 33% of the portion will be reserved for non-institutional investors (NIIs) with investment between ₹2 lakh - ₹10 lakh.</li><li>Remaining 66% of the portion will be reserved for NIIs with more than ₹10 lakh investment.</li><li>Winding up of mutual fund schemes would now be possible only after the consent of majority unitholders. </li></ul>SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/sebi-doesnt-want-mutual-funds-diving-into-crypto-assets-at-least-until-the-crypto-bill-is-finalised/articleshow/88563302.cms">India’s market watchdog warns mutual funds to stay away from crypto assets at least until regulations come in</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/urban-company-ola-uber-are-not-the-best-places-for-gig-workers/articleshow/88561764.cms">Urban Company is not the best place for gig workers anymore and Ola, Uber are the worst</a>

SEBI comes out with stringent norms to save IPO investors from losing big money

The <keyword id="35210" type="ORGANIZATION" weightage="20" keywordseo="sebi">SEBI</keyword> has decided to relax the lock-in requirements for promoter shareholding in terms of initial public offerings (IPO) and further public offerings (<keyword id="46435" type="ORGANIZATION" weightage="20" keywordseo="FPO">FPO</keyword>). In its meeting on Friday, the SEBI board decided that the lock-in of promoters shareholding to the extent of minimum promoters contribution (20 per cent of post issue capital) shall be for a period of 18 months from the date of allotment in IPO/FPO instead of existing three years, if the object of the issue involves only offer for sale and if the object of the issue involves only raising of funds for other than for capital expenditure for a project. Further, the relaxation would be provided also in case of combined offering (fresh issue and offer for sale) if the object of the issue involves financing for other than capital expenditure for a project. In a statement, the SEBI said that in all the conditions, the promoter shareholding in excess of minimum promoter contribution shall be locked-in for a period of 6 months instead of existing 1 year. The lock-in of pre-IPO securities held by persons other than promoters shall be locked-in for a period of 6 months from the date of allotment in IPO instead of existing 1 year, it said. The period of holding of equity shares for Venture Capital Fund or Alternative Investment Fund (AIF) of category I or II or a <keyword id="5183194" type="ORGANIZATION" weightage="20" keywordseo="Foreign-Venture-Capital-Investor">Foreign Venture Capital Investor</keyword> shall be reduced to 6 months from the date of their acquisition of such equity shares instead of existing 1 year. A SEBI consultation paper dated May 11, 2021 had provided detailed rationale for the reduction in lock-in period such as demonstration of skin in the game by promoters, existence of private equity firms and AIFs several years before proposing listing, much less greenfield financing through IPOs, and others. The board also decided to approve the certain measures to reduce the disclosure requirements at the time of IPO. The definition of promoter group shall be rationalised, in case where the promoter of the issuer company is a corporate body, to exclude companies having common financial investors. The disclosure requirements in the offer documents, in respect of group companies of the issuer company, shall be rationalised to, <keyword id="11806650" type="UNKNOWN" weightage="20" keywordseo="inter-alia">inter-alia</keyword>, exclude disclosure of financials of top 5 listed/unlisted group companies. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/enterprise/news/indias-first-apple-store-delayed-due-to-covid-19/articleshow/85102306.cms">Launch of India’s first Apple store delayed due to Covid-19</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/apple-pay-and-google-pay-are-coming-to-coinbase-allowing-users-to-buy-cryptocurrencies/articleshow/85096650.cms">Coinbase now lets you purchase crypto via Apple Pay, Google Pay option to arrive soon as well</a>

IPO/FPO: SEBI eases lock-in norms for promoter shareholding

<ul><li>The agrochemical company <keyword id="13053010" type="General" weightage="100" keywordseo="dharmaj-crop-guard" source="Orion">Dharmaj Crop Guard</keyword> is likely to announce its share allotment status on December 5. </li><li>Overall, the IPO saw decent demand from investors amidst volatile market conditions, being subscribed 35.49 times. </li><li>The shares will be listed on December 8 on the exchanges. </li></ul>The agrochemical company Dharmaj Crop Guard is likely to announce the allotment status of its initial public offering (IPO) on Monday, December 5. Overall, the IPO received decent demand from investors amidst volatile market conditions, being subscribed 35.49 times. The qualified institutional buyer portion was subscribed 48.21 times. The portion reserved for non-institutional investors witnessed a subscription of 52.29 times. The retail portion, on the other hand, was subscribed 21.53 times. The grey market premium (GMP) for the company’s shares stood at ₹55 per share. The Ahmedabad-based agrochemical company distributes and markets insecticides, fungicides, herbicides, plant growth regulators, micro fertilisers and antibiotics to the B2B and B2C segments. Here is how to check <keyword id="15699155" type="General" weightage="20" keywordseo="Dharmaj-Crop-Guard-IPO-allotment-status" source="Orion">Dharmaj Crop Guard IPO allotment status</keyword> on the stock exchange websites: <ul><li>Go to the <a href="https://www.bseindia.com/investors/appli_check.aspx">BSE website</a> or NSE website<a href="https://www1.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp"> here</a>. </li><li>On <keyword id="35140" type="General" weightage="50" keywordseo="bse" source="Orion">BSE</keyword>, Select 'Equity' and then from the dropdown, select ‘Dharmaj Crop Guard’. </li><li>Now, enter your application number and PAN. </li><li>Click on 'Search'. </li><li>Please note the details will only be available once the shares are allotted. </li></ul>You can also visit the registrar website (Link Intime India) to check your application status. <ul><li>Visit the registrar's website <a href="https://linkintime.co.in/MIPO/Ipoallotment.html">here</a>. </li><li>Click on 'Select company' and click on ‘Dharmaj Crop Guard’. </li><li>Once the company is selected, you will have to enter either your PAN details, the application number, or the client ID. </li><li>Enter the captcha code and click ’submit’. </li></ul>Once you hit 'submit', the status of your application will appear on the screen. Please ensure the details that you provide are correct. It will show the number of shares you subscribed to and the number of shares allotted to you. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/bank-of-baroda-expects-25-35-basis-points-rate-hike-from-dec-5-7-rbi-policy-meet/articleshow/95992359.cms">Bank of Baroda expects 25-35 basis points rate hike from Dec 5-7 RBI policy meet</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/this-mumbai-startup-is-making-tearable-laundry-sheets-bamboo-based-facial-tissues-and-more-to-replace-plastic/articleshow/95946533.cms">This Mumbai startup is making tearable laundry sheets, bamboo-based facial tissues and more to replace plastic</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/news/govt-approves-pli-scheme-for-making-drones-with-outlay-of-rs-120-cr-comes-out-with-norms/articleshow/95981288.cms">Govt approves PLI scheme for making drones with outlay of Rs 120 cr, comes out with norms</a>

Dharmaj Crop Guard IPO : Here’s how you can check the allotment status

Electric two-wheeler makers <keyword id="108831" type="General" weightage="50" keywordseo="tvs-motor-company" source="Orion">TVS Motor Company</keyword>, Ather Energy and <keyword id="4393078" type="General" weightage="50" keywordseo="ola-electric" source="Orion">Ola Electric</keyword> have increased prices of their products as curtailed subsidy structure comes into effect from June 1. In a statement, TVS Motor Company stated that in order to propel the electrification journey further in a sustainable manner after <keyword id="21028" type="General" weightage="80" keywordseo="fame" source="Orion">FAME</keyword> II scheme revision, it has increased iQube's price between Rs 17,000 and Rs 22,000 depending on the variant. The iQube base and S trims were earlier priced at Rs 1,06,384 and Rs 1,16,886, respectively in Delhi. "FAME II will gradually reduce over the next few quarters. The company will continue to deliver delightful product options and great value proposition to propel the electrification and green energy penetration in two-wheelers in the country," TVS Motor Company Director and CEO K N Radhakrishnan said. The company will offer a loyalty benefit programme for the customers of iQube, who have made bookings till May 20, 2023, for a limited period to ease the cost burden post the revision in FAME II subsidy, he added. Ather Energy said that following the FAME II subsidy revision applicable from today, it has also revised the prices of its scooters with 450X now starting at Rs 1,45,000 (ex-showroom Bengaluru). The 450X with <keyword id="17580517" type="General" weightage="50" keywordseo="pro-pack" source="Orion">Pro Pack</keyword> now starts at Rs 1,65,435 in Bengaluru, an increase of around Rs 8,000. "The FAME II revision has resulted in a subsidy reduction of around Rs 32,000. However, the company is absorbing a huge chunk of this price impact for its customers with a view to quicken EV adoption in the country," Ather Energy Chief Business Officer <keyword id="13554227" type="General" weightage="50" keywordseo="ravneet-s-phokela" source="Orion">Ravneet S Phokela</keyword> stated. <keyword id="6354720" type="General" weightage="100" keywordseo="ola" source="Orion">Ola</keyword> said its electric scooter S1 Pro is now priced at Rs 1,39,999; S1 (3KWh) at Rs 1,29,999; and S1 Air (3KWh) at Rs 1,09,999. The product range is now roughly Rs 15,000 costlier than before. "With an unyielding dedication to customer satisfaction, we have marginally increased our product prices starting June, despite significant reduction in government subsidies, making Ola S1 the best EV proposition in India," Ola Electric Founder and CEO Bhavish Aggarwal said. In a statement, Hero Electric said that it will not increase the prices of its popular e-scooter models. The company said it remains dedicated to promoting the adoption of electric two-wheelers and dispelling misconceptions about their cost of ownership. "Despite the extreme financial crunch forced upon us due to subsidies stuck with Ministry of Heavy Industries for over 15 months, we will continue to do our bit in offering affordable mobility solutions to the discerning customers by holding on to our current prices till we can," said Hero Electric CEO Sohinder Gill. The Heavy Industries Ministry has notified that for electric two-wheelers, the demand incentive will be Rs 10,000 per kWh. The cap on incentives for electric two-wheelers will be 15 per cent of the ex-factory price of vehicles from 40 per cent at present. The Faster Adoption and Manufacturing of Electric and Hybrid Vehicles (FAME) India scheme commenced on April 1, 2019, for a period of three years, which was further extended for two years till March 31, 2024. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/royal-enfield-sales-rise-22-in-may-at-77461-units/articleshow/100679587.cms">Royal Enfield sales rise 22% in May at 77,461 units</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/ikio-lighting-sets-ipo-price-band-at-270-285/share/articleshow/100679971.cms">IKIO Lighting sets IPO price band at ₹270-285/share</a>

TVS, Ather, Ola hike prices of electric two-wheelers as new subsidy norms kick in

<keyword id="19923231" type="General" weightage="20" keywordseo="Air-India-Express" source="keywords" meta.keywordsubtype="org" meta.entityname="Air India Express" meta.hostid="261" meta.entityid="Air India Express">Air India Express</keyword> has termited at least 25 <keyword id="21572930" type="General" weightage="20" keywordseo="cabin-crew-members" source="keywords">cabin crew members</keyword>, a day after hundreds of <keyword id="19916568" type="General" weightage="20" keywordseo="employees" source="keywords">employees</keyword> reported sick and failed to report to work that led to disruptions to <keyword id="19954208" type="General" weightage="20" keywordseo="flight-operations" source="keywords">flight operations</keyword>. According to sources within the airline, the management on Wednesday terminated cabin crew members who took <keyword id="20299395" type="General" weightage="20" keywordseo="sick-leave" source="keywords">sick leave</keyword> between Tuesday and Wednesday due to their unprofessional behaviour, which resulted in inconvenience to thousands of passengers. The <keyword id="21571427" type="General" weightage="20" keywordseo="mass-sick-leave" source="keywords">mass sick leave</keyword> was considered a pre-meditated and concerted abstention from work without any justifiable reason, violating Air India Express Limited employee service rules. The decision to terminate the employees was made as their actions violated the conditions outlined in their employment contracts, leading to their immediate termination. The disruption caused by the mass sick leave affected more than 95 flights of Air India Express between Tuesday evening and Wednesday, impacting over 10,000 passengers. The disruption in flight operations stemmed from the delay and cancellation of over 90 international and domestic flights due to cabin crew members reporting sick. In response to this, Air India Express CEO, Aloke Singh, announced plans to reduce flight operations in the coming days. Singh said that since Tuesday evening, "over 100 of cabin crew colleagues have reported sick prior to their rostered flight duty, at the last minute, severely disrupting our operations. Because this action was mostly by colleagues assigned L1 role, the impact was disproportionate, disrupting 90+ flights even though other colleagues reported for duty." He emphasised that the behaviour of a few does not represent the dedication of the majority of the airline's cabin crew, who continue to serve guests with dedication and pride. "This act is certainly not representative of the 2,000-odd cabin crew colleagues in the company who continue to respond to the call of duty and serve our guests with dedication and pride. I am thankful to all who are standing by the airline in this hour of crisis," he said in a statement. Singh invited staff for discussions to address any concerns they may have and assured that all communication channels are open. The cancellations and delays prompted the Ministry of Civil Aviation to seek a detailed report from Air India Express. The ministry urged the airline to promptly resolve the issues and ensure that passengers are provided with facilities as per DGCA norms. Sources within the ministry revealed that cancellations and delays began on Tuesday night, continuing into Wednesday morning, which led to flight operations being curtailed due to a sudden shortage of crew members. Some senior crew members allegedly switched off their mobile phones just before flight operations, citing health issues. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/indegene-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/109952516.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/indegene-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/109952516.cms" target="_blank">Indegene IPO allotment – How to check allotment, GMP, listing date and more</a><a href="https://www.businessinsider.in/tech/apps/news/google-wallet-launched-in-india-store-your-loyalty-cards-boarding-passes-and-more/articleshow/109941139.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/apps/news/google-wallet-launched-in-india-store-your-loyalty-cards-boarding-passes-and-more/articleshow/109941139.cms" target="_blank">Google Wallet launched in India – store your loyalty cards, boarding passes and more</a><a href="https://www.businessinsider.in/business/auto/webstories/top-selling-cars-in-india-in-april-2024-tata-punch-continues-to-dominate/slidelist/109909744.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/webstories/top-selling-cars-in-india-in-april-2024-tata-punch-continues-to-dominate/slidelist/109909744.cms" target="_blank">Top-selling cars in India in April 2024 – Tata Punch continues to dominate</a>

Air India Express terminates 25 employees, day after mass sick leave

<ul><li><keyword id="830092" type="General" weightage="20" keywordseo="zomato" source="Orion">Zomato</keyword> and <keyword id="6358977" type="General" weightage="20" keywordseo="swiggy" source="Orion">Swiggy</keyword> will be liable to collect <keyword id="6354679" type="General" weightage="20" keywordseo="gst" source="Orion">GST</keyword> on online orders of food, instead of restaurants.</li><li>We don’t tax platforms like Amazon because we understand that they are marketplaces, why such difference with food aggregators, asks EY’s Bipin Sapra.</li><li>The tax loss to the government due to alleged under-reporting by food delivery aggregators is ₹2,000 crore over the past two years.</li></ul>India’s Finance Minister Nirmala Sitharaman on Friday announced that online food delivery platforms like Zomato and Swiggy will be the ones collecting goods and services tax (GST) from customers. The tax rate stays consistent at 5% and the ruling comes into effect on January 1, 2022. Earlier, it was the responsibility of the restaurants to do the same. It did seem pretty fair though, given that restaurants were the ones actually serving the customers while these new age platforms only facilitated online ordering. But it is what it is and the tax experts are not too impressed with it. The partners of renowned law and consultancy firms agreed that taxing platforms like Zomato and Swiggy was not the right way to go about this. “Are we asking Amazon and others to pay the tax? No, because we understand that separate from where there is a buy and sell,” EY’s Bipin Sapra said, adding that food delivery platforms work in a similar manner. But before we form an opinion about it, it is important to understand what this hullabaloo is all about. ‘It’s transfer of responsibility, not an add on tax.’ A customer pays a GST of 5% on each order they place, whether for dine-in or at-home delivery. The restaurants collect this GST because it is the one providing the services/product to the customers directly. The Indian government has now decided that restaurants would not be the ones collecting the taxes on online orders accepted through apps like Zomato and Swiggy. Instead, these food aggregator businesses will be the ones doing so. “They've actually said that these electronic commerce operators would be paying the tax on behalf of restaurants that are supplying customers through their platform. It is like a transfer of responsibility. The restaurant is not required to pay that, but yes they will continue to pay the tax for the offline sales,” PwC’s Anita Rastogi said in an exclusive interaction with Business Insider. Therefore, it doesn't really have much of an implication on customers in many cases as the GST rate stays the same. In some, it does. ‘I already pay GST on order, why do I care who collects it?’ While the government of India is yet to issue further clarification on the new GST norms for Zomato and Swiggy, the current facts have actually made the platforms quite redundant. If restaurants are not supposed to collect GST on online orders, does this mean that placing an order directly from the restaurants will be cheaper than placing it through these platforms? “If I order from a dhaba [roadside restaurant] next door and there is a 5% tax that Zomato charges, but if I call him directly, I don't have to pay 5% tax... Then that brings in inefficiencies and then takes away the whole purpose of having these platforms who are pushing the smaller players to reach a bigger audience,” Chilana &amp; Chilana Law Office’s Sandeep Chilana said. Even the tax experts or the platforms themselves are not too sure about how the government plans to play it out. Both Zomato and Swiggy have <a href="https://economictimes.indiatimes.com/tech/startups/swiggy-zomato-reach-out-to-govt-for-clarity-on-gst/articleshow/86439373.cms" data-type="tilCustomLink">reportedly</a> reached out to the government, seeking more details on the GST being levied on them. They are worried that this could lead to tax cascading (tax on tax). Abhishek Rastogi, partner at Khaitan &amp; Co, also raised similar concerns. There is one thing for sure — you will have more tax on your plate now. Earlier, restaurants below certain thresholds were exempted from paying GST on online or dine-in orders. Thanks to the new policies, even those restaurants would be under the tax next and ordering from your nearest dhaba will get more expensive. ‘This is precisely why the government took this up’ Despite the increase in online ordering, the government of India has not been able to fill up its treasury at the same rate. “These restaurants were required to take the GST and pay the tax to the government, but somewhere down the line — through technology, artificial intelligence, etc — many of the restaurants are not paying this particular tax to the government,” Rastogi said. As per the <a href="https://www.business-standard.com/article/economy-policy/5-gst-on-food-delivery-apps-fuel-to-stay-out-of-ambit-key-decisions-121091701376_1.html">estimates</a>, the tax loss to government due to alleged under-reporting by food delivery aggregators is ₹2,000 crore over the past two years. ‘But is there any way out?’ “The simplest solution which can be implemented as soon as possible was tax collected at source (TCS),” Rastogi added. Tax collected at source (TCS) is the tax payable by a seller, which he collects from the buyer at the time of sale. Platforms like Zomato and Swiggy are liable to pay TCS of 1%, which highlights that the government had already taken cognisance of the issue. The experts agree that increasing the TCS was a much simpler and faster way to go about things here, instead of introducing a new tax altogether. SEE ALSO <a href="https://www.businessinsider.in/cryptocurrency/news/south-koreas-crypto-regulations-are-tightening-around-investors-and-exchanges-alike/articleshow/86426452.cms">South Korea’s crypto regulations are tightening around investors and exchanges alike</a> <a href="https://www.businessinsider.in/stock-market/news/paras-defence-and-space-technologies-ipo-gets-blockbuster-demand-from-investors/articleshow/86422668.cms">Paras Defence and Space Technologies IPO gets blockbuster demand from investor</a> <a href="https://www.businessinsider.in/business/news/experts-say-karnatakas-ban-on-games-of-chance-like-dream11-and-mpl-may-face-a-legal-test/articleshow/86419697.cms">Experts say Karnataka’s ban on games of chance like Dream11 and MPL may face a legal test</a>

India needs to review how it wants to extract tax from Zomato and Swiggy

<ul><li>At 7:50 am, the SGX Nifty was trading 0.30% lower, pointing towards a cautious start for Nifty50. </li><li>Here’s a list of <keyword id="73648" type="PERSON" weightage="20" keywordseo="Stocks-to-watch">stocks to watch</keyword> for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider</a>. </li></ul>Indian stock market is likely to open on a tepid note, tracking subdued cues from Asian peers. At 7:50 am, the SGX Nifty was trading 0.30% lower, pointing towards a cautious start for Nifty50. Hong Kong’s Hang Seng Index was also trading 157.91 points lower at the same time. Here’s a list of stocks to watch for in trade on September 21: IRCTC Indian Railway Catering and Tourism Corporation (IRCTC) that operates Indian Railways will run 20 pairs of clone trains from September 21 due to the huge demand for travel on specific routes. Most of these trains <a href="https://www.livemint.com/news/india/railways-to-run-40-clone-trains-from-tomorrow-details-on-routes-stoppages-timings-11600604037741.html">will run between Bihar, West Bengal</a>, Uttar Pradesh, Delhi and Andhra Pradesh. The share price of IRCTC closed 3% higher on September 18. RITES The board of state-owned RITES has approved buyback of shares amounting up to ₹257 crore. In a filing to the stock exchange, the company said that it would buy shares at a price of ₹265 apiece. The share price of RITES closed 1.11% higher on Friday. State Bank of India, Bank of India, Central Bank of India and other public sector banks State Bank of India, Bank of India, Central Bank of India and other public sector banks (PSB) will be in focus during the trade today. According to a reply to an RTI query, the government-owned banks reported frauds worth over ₹19,964 crore during the quarter ended June 30. The share price of SBI, Bank of India and Central Bank of India closed over 2% lower on the last trading day. Punjab National Bank On Friday, state-owned Punjab National Bank said the financial regulator of Kazakhstan had revoked the licence of its subsidiary, JSC Tengri Bank, on account of failure to observe prudential standards and other mandatory norms. PNB holds 41.64% in JSC Tengri Bank. The share price of Punjab National Bank closed 2% lower on September 18. Future Enterprises Kishore Biyani owned Future Enterprises (FEL) told stock-exchanges that it has defaulted on debt repayment towards the commercial paper. FEL said that it is unable to service its obligations in respect of the payment of commercial paper after its maturity and the gross principal amount on which the default has occurred on September14, is ₹90 crore. FEL is responsible for developing, owning, and leasing retail infrastructure for the Future Group. And, this may move other <keyword id="9853524" type="UNKNOWN" weightage="20" keywordseo="future-group-stocks">Future Group stocks</keyword> as well such as — Future Retail, Future Lifestyle Fashions and others. Computer Age Management Services and Chemcon Speciality Chemicals Computer Age Management Services and Chemcon Speciality Chemicals IPO will be open for subscription from today onwards for investors. Route Mobile Route Mobile’s ₹600 crore IPO will debut on bourses today. The grey market is pointing towards a bumper listing with a premium of up to 60% over the issue price.

Top stocks to watch— Future Group, IRCTC, RITES, SBI, Bank of India, PNB and more

New Delhi, <keyword id="9003972" type="COMPANY" weightage="20" keywordseo="the-finance-industry-development-council">The Finance Industry Development Council</keyword> (FIDC), an industry body of asset and loan financing NBFCs has written to <keyword id="102024" type="COMPANY" weightage="20" keywordseo="The-Reserve-Bank-of-India">the Reserve Bank of India</keyword> (RBI) seeking implementation of the proposed guidelines for <keyword id="1874148" type="UNKNOWN" weightage="20" keywordseo="Dividend-distribution">dividend distribution</keyword> by NBFCs with effect from April 1, 2021. As per the draft circular released by the RBI, the guidelines would be applicable for dividend to be declared for the <keyword id="426914" type="PERSON" weightage="20" keywordseo="current-financial-year">current financial year</keyword> beginning April 1, 2020. In a letter to the RBI, the industry body said: "The Draft Circular is proposed to take effect from the financial year beginning April 1, 2020 which would in effect impact the declaration of dividend for the current financial year as well in which interim dividend may already have been declared - this will be akin to giving retrospective effect to the guidelines and hence the request should be for the guidelines to take effect only from April 1, 2021, i.e. for dividend from financial year 2021-2022 onwards." It further said that for preference shares which have already been issued with a certain promised rate of dividend, the proposed guidelines could in effect bar the Systemically Important Non-Deposit taking <keyword id="153220" type="COMPANY" weightage="20" keywordseo="non-banking-financial-company">Non-Banking Financial Company</keyword> (NBFC-ND-SI) from making payment of the same despite having sufficient distributable profits in terms of the Act. All such existing instruments should be grandfathered, FIDC said. It also told the central bank that the circular should be explicitly limited to dividend on only equity shares. Companies often issue redeemable preference shares carrying fixed rates of dividend which need to be treated differently. "Without prejudice to this suggestion, furthermore, we have to state that under Section 47 (Voting Rights) of the Act, failure to pay dividend for a period of two years or more gives preference shareholders voting rights at par with equity shareholders." According to FIDC, if the proposed guidelines under the draft circular are introduced, such a situation could be triggered despite the NBFC-ND-SI having distributable profits available for honouring the promised preference share dividend. The Act should be amended as a pre-cursor to the draft circular to ensure that the voting rights would not trigger if the non-payment of the preference share dividend for a period of two years or more is due to the RBI stipulation, it added, among other recommendations. The RBI released the draft circular for dividend distribution by NBFCs on December 9. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/mrs-bectors-food-ipo-investors-saw-their-money-double-on-listing-day/articleshow/79934860.cms">Mrs Bector’s Food IPO investors saw their money double on listing day</a> <a href="https://www.businessinsider.in/thelife/personalities/news/from-taking-on-yahoo-to-being-tamed-by-chinas-communist-party-its-been-a-roller-coaster-decade-for-jack-ma/slidelist/79935613.cms">From taking on Yahoo to being tamed by China’s Communist Party— it’s been a roller coaster decade for Jack Ma</a> <a href="https://www.businessinsider.in/careers/news/ey-is-looking-to-hire-9000-techies-in-2021-to-boost-its-digital-services/articleshow/79936576.cms">EY is looking to hire 9,000 techies in 2021 to boost its digital services</a>

You Searched For "ipos norms in india" and got 9 results

Skoda plans to launch an updated electric vehicle in India in 2025

BI India Bureau

SEBI comes out with stringent norms to save IPO investors from losing big money

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IPO/FPO: SEBI eases lock-in norms for promoter shareholding

IANS

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Eetika Kapoor

TVS, Ather, Ola hike prices of electric two-wheelers as new subsidy norms kick in

PTI

Air India Express terminates 25 employees, day after mass sick leave

ANI

India needs to review how it wants to extract tax from Zomato and Swiggy

Kritti Bhalla

Top stocks to watch— Future Group, IRCTC, RITES, SBI, Bank of India, PNB and more

Navdeep Yadav

'Dividend payout norms for NBFCs should come into effect from FY22'

IANS

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