Author: Raoji

Of Hookers and India Bulls

Post author By Raoji
Post date June 2, 2014
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After receiving constant complaints of flesh trade, the social service branch of Mumbai Police raided a flat in Andheri. At least 3 people including 2 girls were arrested from the flat.

The flat belongs to former police commissioner and BJP MP Satyapal Singh.

The society which was raided on Saturday night consisted of flats of many eminent police officers. Also, the police team has recovered the electricity bill from the flat in the name of Satyapal Singh. The same name is mentioned on the board of the society.

According to information, the flat has been provided on rent to a company. The arrested person works for the same company.

Satyapal Singh, the owner of the flat said that he had given the flat on rent to India Bulls Company and that he is not responsible for unethical acts going on in the flat.-from DailyBhaskar

Excerpts IPO

CDSL to go for an IPO

(Disclosure:I am market making in BSE)

The Bombay Stock Exchange plans to sell a part of its stake in Central Depository Services (India) Ltd through an initial public offer (IPO), three people with direct knowledge of the development said.
The exchange has to bring down its holding to comply with the Securities and Exchange Board of India’s norms on ownership in market infrastructure institutions.

The IPO will value the company at around Rs 700-750 crore, these people said.

“The boards of directors of BSE and CDSL have approved the proposed initial public offering plan,” an investment banker said.

BSE will now hire bankers to manage the issue and is looking at a listing by the end of the current financial year, people quoted earlier said.

As on April 30, CDSL managed 8,772,884 accounts with securities of Rs 11.28 lakh crore. Stocks and securities of around 14,738 companies are being managed by the depository.

BSE, Asia’s oldest exchange, holds 54.2% in CDSL and needs to trim it to below 24% to comply with Securities and Exchange Board of India’s norms on ownership and governance of market infrastructure institutions. –from ET