A Move Well Calculated
The Securities and Exchange Board of India's move to permit companies to delist is a major move to win over the corporate world. There is already considerable disquiet within India Inc over frequent raids on business houses by the Enforcement Directorate and other central agencies. With the general elections slated for 2024, the BJP government simply cannot afford to alienate industry bigwigs. Hence a series of sops are being planned and the SEBI move to let companies delist is one of them. According to reports in pink papers, SEBI is toying with the idea of letting companies delist by announcing a fixed price for buy back shares in the place of the present reverse book building procedure. Several companies are believed to be readying up to delist so that the profits accrue entirely to them.
More Power To You!
Union minister for commerce and textiles Piyush Goyal is tipped to be given a promotion. Apparently, both PM Narendra Modi and Union Home Minister Amit Shah are pleased with his performance and are planning a bigger role for him when there is a cabinet reshuffle which is likely soon after the Parliament session. Goyal, who had no administrative experience when he was first inducted in the Union ministry, has grown in office big time. A chartered accountant by profession, he has brought corporate culture into the bureaucracy. India Inc is also extremely pleased with him because of his easy accessibility and quick grasp of issues. The BJP organisation is also supportive because he gives due weightage to suggestions from party leaders. He comes from a family which has been closely associated with the Rashtriya Swayamsevak Sangh for several decades and to that extent he enjoys the goodwill of the RSS as well.
A Deal Out Of Syllabus
A prominent private school in a Mumbai suburb is up for sale. The asking price is a whopping Rs 300 crore. It has, so far, received two offers from investors for Rs 225 crore, but the management is firm on getting Rs 300 crore. This school is known to charge annual fees upwards of Rs 25 lakh and yet there is a long queue of parents wanting to admit their wards. The school is on state government land and its lease is expected to end shortly. Children of many celebrities study at this school at present and securing an admission is considered to be a status symbol. Meanwhile, a central agency has alerted Delhi about unwanted elements sneaking into the country in the garb of "education consultants".
Vendors are being offered 20% commission by a newspaper for promoting an OTT platform. Now the vendors are confused whether to sell the newspaper or promote the OTT platform. Samajh gaye na?
Compiled by S Balakrishnan