Specific investor rights issue applications require same day disclosure and prohibit withdrawal after application is submitted. Regulation 77B designates a specific investor as one whose name is disclosed under specified sub-clauses of regulation 84(1)(f) and prescribes that, for ... Summary
Specific investor rights issue applications require same day disclosure and prohibit withdrawal after application is submitted.
Regulation 77B designates a specific investor as one whose name is disclosed under specified sub-clauses of regulation 84(1)(f) and prescribes that, for the first disclosure route, the specific investor must apply on the first day of issue opening before 11 A.M. with the issuer disclosing to the stock exchange by 11:30 A.M. whether the application was made; such applications cannot be withdrawn. For the alternate disclosure route, the specific investor must apply with application money before finalisation of the basis of allotment.
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