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<h1>SEBI Enforces Six-Month Lock-In for Non-Promoter Entities' Pre-Issue Capital in IPOs; Exceptions for Employees and Investment Funds</h1> The Securities and Exchange Board of India (SEBI) mandates a six-month lock-in period for pre-issue capital held by non-promoter entities from the date of allotment in an initial public offering. Exceptions include equity shares allotted to employees under specified stock schemes, subject to disclosure requirements, and shares held by venture capital or alternative investment funds, which must also adhere to a six-month lock-in from the purchase date. The regulation includes provisions for shares resulting from convertible securities or bonus issues, considering the combined holding period for lock-in calculations.