Securities And Exchange Board of India (Issue Of Capital And Disclosure Requirements) Regulations, 2018 Chapter VIII RIGHTS ISSUE OF INDIAN DEPOSITORY RECEIPTS
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Use of funds in rights offering: issuers must deploy proceeds only after allotment completion process. Issuance-related funds raised through a rights offering of Indian Depository Receipts are subject to a post-allotment utilisation restriction: the issuer is required to hold and not deploy proceeds until the allotment process is completed.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Use of funds in rights offering: issuers must deploy proceeds only after allotment completion process.
Issuance-related funds raised through a rights offering of Indian Depository Receipts are subject to a post-allotment utilisation restriction: the issuer is required to hold and not deploy proceeds until the allotment process is completed.
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