APPOINTMENT OF LEAD MANAGERS AND OTHER INTERMEDIARIESSecurities And Exchange Board of India (Issue Of Capital And Disclosure Requirements) Regulations, 2018
APPOINTMENT OF LEAD MANAGERS AND OTHER INTERMEDIARIESSecurities And Exchange Board of India (Issue Of Capital And Disclosure Requirements) Regulations, 2018
Preferential issue floor pricing requires VWAP-based minimums and recomputation for recently listed frequently traded shares. Preferential allotments of frequently traded equity must meet a VWAP-based floor price: for sufficiently long-listed shares the floor is the higher of two ... Summary
Preferential issue floor pricing requires VWAP-based minimums and recomputation for recently listed frequently traded shares.
Preferential allotments of frequently traded equity must meet a VWAP-based floor price: for sufficiently long-listed shares the floor is the higher of two VWAP averages over longer and shorter look-back windows; for shorter-listed shares the floor is the highest of the IPO/scheme price, average VWAP since listing, or the two-week VWAP average. Prices recomputed after the post-listing period can create a pay-in obligation if higher than the allotment price; Articles of Association may prescribe a higher floor that prevails.
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