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
Qualified institutions placement requires shareholder special resolution, a one-year listing condition and specification of the relevant date. A listed issuer may make a qualified institutions placement only if shareholders pass a special resolution and the equity shares of the same class ... Summary
Qualified institutions placement requires shareholder special resolution, a one-year listing condition and specification of the relevant date.
A listed issuer may make a qualified institutions placement only if shareholders pass a special resolution and the equity shares of the same class proposed to be allotted (or issuable on conversion/exchange) have been listed on a recognised stock exchange with nationwide trading terminals for at least one year prior to the notice convening the meeting; the transferee company proviso allows counting the transferor's listing period. The special resolution must state the proposed QIP allotment and specify the relevant date; "equity shares of the same class" is defined by the Explanation to rule 19(4) of the Securities Contracts (Regulation) Rules.
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