APPOINTMENT OF LEAD MANAGERS, OTHER INTERMEDIARIES AND COMPLIANCE OFFICER.Securities And Exchange Board of India (Issue Of Capital And Disclosure Requirements) Regulations, 2018
APPOINTMENT OF LEAD MANAGERS, OTHER INTERMEDIARIES AND COMPLIANCE OFFICER.Securities And Exchange Board of India (Issue Of Capital And Disclosure Requirements) Regulations, 2018
Promoters' contribution requirement: promoters must hold minimum post-issue stake, with limited shortfall permitted to specified investors. The regulation requires promoters to hold twenty per cent of post-issue expanded capital, by equity or subscription to convertible securities, with ... Summary
Promoters' contribution requirement: promoters must hold minimum post-issue stake, with limited shortfall permitted to specified investors.
The regulation requires promoters to hold twenty per cent of post-issue expanded capital, by equity or subscription to convertible securities, with specified institutional or qualifying non-individual investors allowed to cover a limited shortfall without being identified as promoters. Conversion-linked equity must observe pre-determined pricing and not be below the weighted average price when conversions occur on different dates. Promoters must satisfy the contribution at least one day prior to opening; promoter funds intended for contribution must be held in escrow and disclosed if already utilised.
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