Initial public offer eligibility: debarment, wilful default, fugitive offender or outstanding convertibles can bar an offering. An issuer is barred from making an initial public offer if the issuer or related persons are debarred from the capital market, are wilful defaulters or fraudulent borrowers, are fugitive economic offenders, or if there are outstanding convertible securities or rights to equity; exceptions cover compliant employee stock options and fully paid convertible securities required to convert before filing, and expired past debarments do not apply for SME Exchange filings.
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.
Initial public offer eligibility: debarment, wilful default, fugitive offender or outstanding convertibles can bar an offering.
An issuer is barred from making an initial public offer if the issuer or related persons are debarred from the capital market, are wilful defaulters or fraudulent borrowers, are fugitive economic offenders, or if there are outstanding convertible securities or rights to equity; exceptions cover compliant employee stock options and fully paid convertible securities required to convert before filing, and expired past debarments do not apply for SME Exchange filings.
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