RESTRICTION ON TRANSFERABILITY (LOCK-IN) OF PROMOTERS’ CONTRIBUTION, ETC. - Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009
RESTRICTION ON TRANSFERABILITY (LOCK-IN) OF PROMOTERS’ CONTRIBUTION, ETC. - Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009
Regulation 37 - Lock-in of specified securities held by persons other than promoters
Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 Part IV RESTRICTION ON TRANSFERABILITY (LOCK-IN) OF PROMOTERS’ CONTRIBUTION, ETC.
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Lock-in of specified securities: pre-issue non promoter holdings subject to statutory one-year restriction after an IPO. Regulation 37 requires a one-year lock-in of the entire pre-issue capital held by persons other than promoters in an initial public offer, while exempting ... Summary
Lock-in of specified securities: pre-issue non promoter holdings subject to statutory one-year restriction after an IPO.
Regulation 37 requires a one-year lock-in of the entire pre-issue capital held by persons other than promoters in an initial public offer, while exempting employee stock option/share purchase allotments disclosed per schedule and equity shares held by venture capital or specified alternative investment funds or foreign venture capital investors (subject to at least one-year lock-in from purchase). Where equity results from conversion of fully paid compulsorily convertible securities, the holding periods of the securities and resultant shares are aggregated for the one-year calculation.
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