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
Record date requirement: announcement bars withdrawal of a rights issue and triggers a temporary prohibition on new listings after withdrawal. A listed issuer must announce a record date to identify shareholders eligible for a rights issue; after announcing the record date the issuer cannot ... Summary
Record date requirement: announcement bars withdrawal of a rights issue and triggers a temporary prohibition on new listings after withdrawal.
A listed issuer must announce a record date to identify shareholders eligible for a rights issue; after announcing the record date the issuer cannot withdraw the rights issue, and if it does withdraw it is subject to a listing restriction barring applications for listing of its specified securities for a period measured from that record date, with an exception allowing listing of equity shares allotted upon conversion or exchange of convertible securities issued prior to the record date.
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