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Looking at changing the name on your investment account? Here's some good news!

As an investor you may have sought to change your name in the investment account for various legitimate reasons, but simply put the decision to another day avoiding the rigmarole.

Recently, the capital market regulator - (SEBI) relaxed the procedures to be followed by investors while changing names in "individual accounts" (vide a circular). Thus now all one needs to do is furnish relevant document(s) showing the publication of name change in official gazette.
So say if there is a change in name after marriage, according to the capital market regulator, all that an individual investor needs to do is, simply submit either a copy of marriage certificate or passport showing husband's name or any other document showing the publication of name change in official gazette.

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Max Bupa launches an innovative mediclaim floater plan wherein 52
members of the same family can be covered in the same policy.

Parents, children, in laws, grand children ,grand parents etc.

SEBI Reforms the IPO process, helps retailers to take more informed decisions.

In general IPO is considered to be safe and promising; since most of them get oversubscribed,retail public often get very less chance to capitalise on the opportunities.

Citing this anomaly in the primary market, now, the capital market regulator - the Securities and Exchange Board of India (SEBI) has notified wide-ranging reforms in IPO market, including

-a strict vigil on usage of issue proceeds,
-greater disclosure by companies and their bankers and
- allotment of a minimum number of shares to retail investors.

According to SEBI, a company would also have to open the issue at least three working days from the date of registering the red herring prospectus with the Registrar of Companies (ROC).

Moreover, the companies would have to disclose the price band at least five days before the opening of the offer period, as against the current provision of two days; thereby giving investors more time to analyse the IPO.

Some of the other reforms in the IPO process brought out by the SEBI are:
1.Issuer would need to allot a minimum lot of shares to each retail investor

2.Retail individual investors to either withdraw or revise their bids until finalisation of the allotment

3.Minimum application size for all investors has also been increased to Rs 10,000 - Rs 15,000

4.Merchant banker who is an associate of the issuer, would have to limit its role to marketing of the offer and declare itself as a marketing lead manager

5.Disclosures made in the red herring prospectus while making an IPO, would need to be updated on an annual basis and made public by the issuer

6.Issuers coming through the 'profitability route' need to have a minimum average pre-tax operating profit of Rs 15 crore

Apart from the above, the SEBI's notification states that no company can deploy more than 25% of the public offer proceeds in the name of 'general corporate purposes'. Besides, any issue-related expenses cannot be considered as a part of 'general corporate purpose' merely because no specific amount has been allocated for such expenses in draft offer document.