Public issue eligibility: issuers must meet debarment, listing, dematerialisation and financing conditions before offering securities. Issuers making public or rights issues must satisfy conditions at draft and final filing: no debarment of issuer or associated persons; application to recognised exchanges with a designated exchange; depository agreement for dematerialisation; full payment or forfeiture of partly paid equity shares; and firm verifiable arrangements for seventy five percent of stated finance excluding the proposed issue and internal accruals. Warrants are permitted with limits on tenure, attachment ratio, upfront price/conversion and forfeiture of unexercised consideration. General corporate use of proceeds is capped at twenty-five percent. Wilful defaulter status bars certain public and convertible debt issues and requires disclosures in rights issues.