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        SEBI

        Regulation 18 - Allotment, refund and payment of interest.

        Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009
        Chapter II
        COMMON CONDITIONS FOR PUBLIC ISSUES AND RIGHTS ISSUES

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        Timely allotment and refund require interest payment if delayed as disclosed in the offer document. Regulation 18 requires issuers and merchant bankers to ensure specified securities are allotted and application moneys refunded within fifteen days from issue closure; if allotment or refund is delayed beyond that period, the issuer must pay interest at the rate and within the time disclosed in the offer document.
                          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.

                                Timely allotment and refund require interest payment if delayed as disclosed in the offer document.

                                Regulation 18 requires issuers and merchant bankers to ensure specified securities are allotted and application moneys refunded within fifteen days from issue closure; if allotment or refund is delayed beyond that period, the issuer must pay interest at the rate and within the time disclosed in the offer document.


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