New Delhi: To help startups to move from the Innovators Growth Platform of stock exchanges to the main board for regular trading, regulator Sebi is planning a new set of norms to allow them to shift after one year of trading and expanding their shareholder base to at least 200. However, the regulator is of the view that if companies listed on the IGP are allowed to be traded in the regular category of main board without following a stringent criteria, it may be misused to bypass the rigorous route of coming up with a main board IPO, officials said. Also Read – Thermal coal import may surpass 200 MT this fiscalAny company desirous of getting listed on the main board of stock exchange for regular trading of their shares need to follow stringent disclosure and eligibility norms and launch an initial public offer (IPO). But, the rules are much more relaxed for the startups looking to list their shares on the new IGP, where trading activities are relatively restricted. A detailed set of norms were finalised by Sebi’s board in December 2018 and the regulator was asked at that time to decide on the requirements of migration of trading of shares from IGP to the main board in consultation with stock exchanges and other stakeholders. Also Read – Food grain output seen at 140.57 mt in current fiscal on monsoon boostOfficials said Sebi discussed these norms with its own Primary Market Advisory Committee as well as the two leading bourses BSE and NSE, pursuant to which a discussion paper was issued for public comments in May this year. After taking into account comments received from merchant bankers, industry bodies, stock exchanges and others, Sebi has now finalised a detailed set of draft norms which would be presented for its board’s approval later this month.
Email Address* Essential workers, who range from grocery store clerks to teachers, make an average of about $56,000 a year. An affordable rent is defined as no more than 30 percent of gross income, or approximately $1,400 a month for those workers.Of course, about half of the city’s rental units are rent-stabilized, which economists say distorts the city’s rental market and makes market-rate housing more expensive. Turnover and vacancy rates for the city’s 900,000-plus rent-regulated units tend to be very low, and evidence suggests those rates haven’t increased as much during the pandemic as they have for market-rate units.In January, the median monthly asking rent in Manhattan was $2,750, a 15.5 percent drop from a year earlier and the largest year-over-year decline since 2010. Brooklyn and Queens median rents each had record decreases as well, falling by 8.6 percent to $2,395 and $2,000, respectively.[NYT] — Sasha JonesContact Sasha Jones Share via Shortlink From mid-March to the end of 2020, only 11,690 units citywide were affordable to essential workers (iStock)Rents have fallen across the city, but most market-rate apartments are still out of reach for essential workers.From mid-March to the end of 2020, only 11,690 units citywide were affordable to essential workers — 40 percent more than during the same period the year prior, but still a pittance, according to a StreetEasy study reported by the New York Times.The apartments represented just 4 percent of the city’s market-rate rental inventory.“It sounds like a really compelling stat,” StreetEasy economist Nancy Wu told the Times of the 40 percent increase. “But at the end of the day, about 96 percent of apartments on StreetEasy are still unaffordable to them.”Read more2021 poised to be good year for townhouse salesManhattan’s luxury market sees best week since 2016Manhattan and Brooklyn renters sign leases in record numbers Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink Message* Tags Full Name* Home Pricesrent regulationRental MarketResidential Real EstateStreetEasy