ISSUE OF SPECIFIED SECURITIES BY SMALL AND MEDIUM ENTERPRISESSecurities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009
ISSUE OF SPECIFIED SECURITIES BY SMALL AND MEDIUM ENTERPRISESSecurities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009
Regulation 58 - Abridged prospectus, abridged letter of offer and ASBA.
Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 Chapter V MANNER OF DISCLOSURES IN THE OFFER DOCUMENTS
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ASBA requirement: public and certain rights issues must accept bids via ASBA, with QIBs and NIIs using ASBA only. Regulation 58 requires the abridged prospectus to contain disclosures in Part D of Schedule VIII and the abridged letter of offer to contain disclosures ... Summary
ASBA requirement: public and certain rights issues must accept bids via ASBA, with QIBs and NIIs using ASBA only.
Regulation 58 requires the abridged prospectus to contain disclosures in Part D of Schedule VIII and the abridged letter of offer to contain disclosures in Part F of Schedule VIII; neither abridged document may include extraneous matter. Every application form, including ASBA forms, must be accompanied by the relevant abridged document. The regulation mandates ASBA: public issues must accept bids only via ASBA; rights issues with a single payment option must provide ASBA; qualified institutional buyers and non-institutional investors must use ASBA.
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