Initial public offering lockups restrict promoter shares, SR Equity Shares, and pledged securities until their prescribed release conditions are met. Promoters' and controlling shareholders' pre-issue shareholding is locked up for 180 days from initial public offering allotment, subject to a limited ... Summary
Initial public offering lockups restrict promoter shares, SR Equity Shares, and pledged securities until their prescribed release conditions are met.
Promoters' and controlling shareholders' pre-issue shareholding is locked up for 180 days from initial public offering allotment, subject to a limited green shoe option lending exception. SR Equity Shares remain locked up until conversion to ordinary shares and completion of one year from allotment. Locked-up securities may be pledged as collateral, but pledge invocation does not end the lockup and the transferee cannot transfer them before its expiry.
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