Opening of issue timelines: issuers must meet regulatory deadlines and file updated offer documents before registration. Regulation 11 requires issuers to open public or rights issues within the statutory timeframes after the Board's observations, with a separate timeframe for the first shelf prospectus issue. Issuers must file an updated offer document with the Board through lead merchant bankers before registering the red herring prospectus or prospectus with the Registrar of Companies or filing the letter of offer with the stock exchange; changes specified in Schedule VII require filing with the Board along with fees in Schedule IV, and an issue may open only after at least three working days from registration of the red herring prospectus.