Payment of consideration requires full payment at allotment; warrants permit initial payment with balance on exercise.

Regulation 169 requires full consideration for specified securities (other than warrants) to be paid at allotment, with exceptions for non-cash consideration and certain preferential issues under stressed-asset or tribunal-approved resolution frameworks. For warrants, an initial portion of consideration is payable at warrant allotment and the balance on share allotment upon exercise; consideration for unexercised warrants is forfeited. Cash consideration must be received from the allottee's bank account (or the first-named joint holder's account), and statutory auditors must certify compliance to the listing stock exchanges with supporting documents maintained.

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