Besides, such companies should make disclosures about their valuations based on issuance of new shares and acquisition of shares in the past 18 months before filing draft offer documents. The move comes against the backdrop of many new age companies, that do not have a track record of having an operating profit at least in the preceding three years. Such firms generally remain loss-making for a longer period before achieving break-even as they opt for ways to gain scale of operations rather than profits in the initial years.
Trading in stocks and other assets ware once reserved for the wealthy, even in industrialized countries. The high commissions that brokers took from clients made transactions on the exchange justified only in the case of large volumes. With the proliferation of the internet and better technology, securities transactions have become significantly more accessible.
"The poor people will get a lot of relief from this," expressed CM Kejriwal. Earlier in the day, Delhi CM convened a meeting with the delegation of NRAI and officials of various departments for the ease of doing businesses for restaurants across Delhi. "The Delhi government is taking measures for the economic revival of the hospitality industry," said CMO Delhi.