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
Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 Chapter VIII-A INSTITUTIONAL PLACEMENT PROGRAMME
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Minimum number of allottees ensures dispersed allocation and limits single-party concentration in institutional placements. Regulation 91H requires a minimum number of allottees for each Institutional Placement Programme offer and caps the portion of the offer any one allottee ... Summary
Minimum number of allottees ensures dispersed allocation and limits single-party concentration in institutional placements.
Regulation 91H requires a minimum number of allottees for each Institutional Placement Programme offer and caps the portion of the offer any one allottee may take to prevent concentration. It deems qualified institutional buyers belonging to the same group or under the same control to be a single allottee for counting purposes, with the group definition drawn from section 372(11) of the Companies Act, 1956.
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