(a) whether during the current year the delivery percentage of Initial Public Offerings (IPOs)
in some cases are more than or equal to the number of shares which were sold through the IPOs
and if so, the details thereof and reaction of the Government thereto; and
(b) the action taken or proposed to be taken by the Government to check the manipulations reported
to have taken place recently?
MINISTER OF THE STATE IN THE MINISTRY OF FINANCE (SHRI NAMO NARAIN MEENA)
(a) According to information received by SEBI from NSE and BSE, during the period January 01, 2011 to December
05, 2011, delivery percentage of none of the scrips was equal to or more than the number of shares allotted in
IPO except in the cases of Shilpi Cable Technologies Ltd., Brooks Laboratories Ltd and Fineotex Chemicals Ltd.
In these cases the deliverable quantity percentage was 100.95 per cent, 100.73 per cent and 100.69 per cent
respectively on the day of listing.
It may be noted that the above delivery percentages have been calculated on a client (gross) basis.
If the percentages are calculated on a member (net) basis, certain number of transactions will net
out resulting in delivery percentages being less than or equal to 100 per cent in all cases.
(b) SEBI maintains a constant vigil in the market. In case of any misdoing, it takes appropriate action
against the concerned entities. The authorities have also put in place systems and practices to promote
a safe, transparent and efficient market and to protect market integrity. The systems instituted include
advanced risk management mechanisms comprising on-line monitoring and surveillance, various limits on
positions, margin requirements, circuit filters, etc. The systems and practices are reviewed continuously
and modified to meet emerging needs.