Introducing the “In Favour Of” filter in Case Laws.
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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>SEBI Regulation 38C allows sale of security receipts to qualified buyers if listing is intended and stake is 50% minimum.</h1> Regulation 38C of the Securities and Exchange Board of India (SEBI) regulations permits existing holders of security receipts to sell their holdings, either wholly or partially, to qualified buyers through private placement, provided the security receipts are intended for listing. This sale is allowed only if the holder's stake is at least fifty percent of the outstanding security receipts. Additionally, the issuer must list the security receipts before adhering to the chapter's provisions. This regulation was introduced through a notification in 2018.
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