Eligibility requirements for further public offers: mandatory listing steps, dematerialisation, financing safeguards, and limits on corporate use.

An issuer making a further public offer must apply for in-principle listing approval and designate a stock exchange, enter into a depository agreement for dematerialisation, resolve partly paid equity shares, and have firm verifiable finance arrangements for project-specific capital expenditure to be funded from issue proceeds excluding the public issue and internal accruals. Limits apply to amounts permitted for general corporate purposes and for objects where acquisition or investment targets are not identified, with tighter caps unless specific targets and disclosures are provided.

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