ISSUE REQUIREMENTS FOR PUBLIC ISSUES - Securities and Exchange Board of India (Issue And Listing Of Non-Convertible Redeemable Preference Shares) Regulations, 2013
ISSUE REQUIREMENTS FOR PUBLIC ISSUES - Securities and Exchange Board of India (Issue And Listing Of Non-Convertible Redeemable Preference Shares) Regulations, 2013
Securities and Exchange Board of India (Issue And Listing Of Non-Convertible Redeemable Preference Shares) Regulations, 2013 Chapter II ISSUE REQUIREMENTS FOR PUBLIC ISSUES
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Minimum subscription requirement triggers refund obligation with prescribed interest on delayed refunds in public preference share issues. Issuers may set a minimum subscription for public issues of non-convertible redeemable preference shares and must disclose it in the offer document in ... Summary
Minimum subscription requirement triggers refund obligation with prescribed interest on delayed refunds in public preference share issues.
Issuers may set a minimum subscription for public issues of non-convertible redeemable preference shares and must disclose it in the offer document in accordance with the Companies Act. If the minimum subscription is not achieved, all application monies must be refunded forthwith; refunds made after eight days from the offer's close must include interest at the rate stated in the offer document, not less than fifteen per cent per annum.
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