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Sebi eases rules to boost municipal bond market

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The Securities and Exchange Board of India (Sebi) on Wednesday said municipalities planning to issue bonds on private placement basis next financial year will have to submit audited accounts for past three financial years starting 201314 to bourses.
The decision has been taken after receiving feedback from municipal corporations.
In view of the operational procedures followed by them, it would be difficult for them to submit the audited accounts for the immediately preceding financial year, it said.
Shankara Building IPO subscribed 51% on Day 1 The initial public offering(IPO) of Shankara Building Products was subscribed 51percent on the first day of the issue on Wednesday.

The IPO received bid sfor 2,700,704 shares against the total issue siz eof  5,2,94,67 shares, data available with the NSE till1830 hoursshowed.
 
The non institutional investors category  was subscribed 10percent, while retail investorsportion 98 percent.

The Bengaluru based retailer Shankara  Building Products on Tuesday mopped up Rs.103.5 crore from an chorinvestors.
Business Standard new delhi,23rd March 2017

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