Subscription period requires set minimum and maximum durations; price-band revisions and force majeure mandate extension. Subscription period for a public issue must run for at least three working days and not more than ten working days. If the price band is revised, the issuer must extend the disclosed bidding period by a minimum additional period. In cases of force majeure, banking strike or similar unforeseen events, the issuer may, with reasons recorded in writing, grant a shorter minimum extension; all extensions remain subject to the primary minimum and maximum working day limits and apply to periods disclosed in the red herring prospectus or prospectus.
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.
Subscription period requires set minimum and maximum durations; price-band revisions and force majeure mandate extension.
Subscription period for a public issue must run for at least three working days and not more than ten working days. If the price band is revised, the issuer must extend the disclosed bidding period by a minimum additional period. In cases of force majeure, banking strike or similar unforeseen events, the issuer may, with reasons recorded in writing, grant a shorter minimum extension; all extensions remain subject to the primary minimum and maximum working day limits and apply to periods disclosed in the red herring prospectus or prospectus.
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