Sebi mulls making retail IPO investment easy

TIMES NEWS NETWORK [ SATURDAY, JANUARY 22, 2005 ] NEW DELHI: With the primary market expecting public offers worth over Rs 40,000 crore this year, market regulator Sebi is considering a slew of measures to ensure that retail investors find it easier to invest in IPOs. The infrastructure committee under Sebi is going into the nitty-gritty so that the regulator can amend some of its norms to facilitate investors and at the same time avoid the allotment crisis faced during the public offer of ONGC last year, sources said. “Investors have to fill up application forms for IPO at least thrice. This leads to confusion on reconciliation. However, multi-data capture can be avoided by using the information present in depositories like NSDL and CDSL,” an NSDL official said here. At present, investors have to state his or her name, bank account, PAN number and other things in at least three forms. However, all this information is present with depositories. The only information that is needed from the investor is his or her Client Identification Number and Depository Identification Number in the IPO forms. Using the Client ID and DP ID numbers, the bank can transfer the funds to the company, which has come up with the public offer. The shares can be transferred and allotted to the investors through the depositories. Another proposal that is under Sebi’s consideration is shortening the period of allotment of shares to three days. This would ensure that investors’ money is not locked up for a longer time.

This will definitely attract more retailers to the Primary market. One of the major stymies that a retailer faces in the Primary market is that his/her money gets locked up for a month or so. This lock-out may turn out to be a white elephant many a times since most of the IPOs get over-subscribed and a lot of us don't get a share of the pie. Hope these ideas materialize in the near future.

The Star and Buc Wild controversy

I couldn't believe it when I heard this audio clip. On my first take, I thought this was some kind of Parthian Shaft. But it turned out that the Radio Jockey had really called up this call center in India. This is a disgraceful act. This will definitely taint the image of the US. I agree that stronger action has to be taken against these RJs.

Read the article here.

Here is the text version of the conversation

Narrator: Wakeup with Star and Buc Wild in the mornings of Power 99 FM.
Star: I'm going to play this call from earlier before we get out of here. This is the, uh, call that I made to - I thought it was a company here locally. Not that I was surprised. (laughter)
Star: I saw this infomercial about, uh, what are these things called again? Oh, the, uh...
Female Voice: Bead? Oh shoot.
Star: Anyway, let - let's just play the call. I was surprised when I got somebody on the line in East India. These little beads that I saw. Little white kids, uh, a little machine that puts them in their hair.
Female Voice: Mm'hm. Star: Play it. (tape begins)
Steena: This is Steena. How may I help you?
Star: Hi, Stain-a, you say?
Steena: Yes.
Star: (In fake Indian accent) Yeah, I called and I just got hung up on. I'm calling from America about the quick beads for my daughter's, uh, hair. Quick beads.
Steena: Okay. May I have your ZIP code please?
Star: 10274.
Steena: 10274?
Star: Yes. Get it right. Now are you in India? Because I just spoke to someone in India who hung up on me.
Steena: Thank you. I am from India, ma'am.
Star: Okay. So my call is being outsourced to India.
Steena: That's right.
Star: In... in regards to my six year old, white American daughter who wants to get the quick beads like Serena and Venus Williams.
Steena: Now. I'll definitely place an order for that. See... tar: What's that?
Steena: ...in the ad, she called to place a quick bead of counier. To ensure proper handling...
Star: Ma'am, I don't know what the hell you're saying. Hang on a second. Let me try and get something straight here. The quick beads, like Venus and Serena Williams, that to advertise to -- to the white kids on television. This call has been outsourced to India?
Steena: That's right. Star: Well, ma'am, what the eff would you know about an American white girl's -- uh, uh -- hair? And quick beads.
Steena: Just to inform you, ma'am, we're a national chain services company. And we're just taking calls on the opposite...
Star: Listen, b**ch! Don't get slick with the mouth! Don't you get slick with me, b**ch!
Steena: Now if you continue to speak this language, I will disconnect the call.
Star: Listen to me, you dirty rat eater. I'll come out there and choke the eff out of you. (laughter)
Star: You're a filthy rat eater. I'm calling about my American six year old white girl. How dare you outsource my call? Get off the line, b**ch! (laughter, end of tape)
Star: Pull it up. (laughter) Star: Heard they listen well out there.

The Pipe Dream

I have had this pipe dream about trimming my waistline and putting on more lean tissue. I dutifully workout at the gym and go flat out at my Karate classes. No use. I am not so indulgent in food too (my roomies would opine differently though). But am seeing a silver lining. Have managed to cut down on my huge dinner proportions and have vowed to abstain from non-vegetarian food until I reach my ideal BMI. Am seeing the difference already. I have shed a couple of kilos. Hope this a journey sans U-turns.

P.S : Just as I was blogging this, my colleague called me to share his birthday cake. I caved in without a second thought. Maybe I should be posting this tomorrow :)

Jen gets a B(r)ad Split

Feels bad to know that another one of these celebrity couples have bit the dust. I hope it wasn't their ego that caused this split. Too bad ... they always looked a perfect couple.

Govt to cut through red tape in Adoption

The TN Govt has moved in fast and taken measures to minimize the sociological damage effected by the Tsunami.

Heartening to see the red tape being cut through in times of need.

Read the article here.

The concept of a New Year Celebration

I always have tried to fathom the rationale behind the celebration that marks a New Year's Eve. Why do people exude so much of goodwill and happiness on that day alone? Dec 31 and Jan 2 are nowhere in the same league as Jan 1.
This New Year's Eve wasn't any different. Mahatma Gandhi Road and Brigade Road that have now become signature tunes of Bangalore saw the hooligans painting the town red. Was knocked down with a feather on seeing the festive spirit. This is one day in the year when all (well ... at least most of us) of us all filled with bonhomie. Well, all that begins well .....
The new year will see me sticking by my off-the-shelf resolutions. This time, I mean it :)