Promoters' contribution exemption applies where no identifiable promoter, infrequently traded further public offers, or rights issues. Regulation 34 disapplies the requirement of minimum promoters' contribution where an issuer lacks an identifiable promoter, where a further public offer concerns equity that has been infrequently traded and the issuer has a recent dividend payment track record, and for rights issues; excess promoter subscriptions above prescribed thresholds must be at a price not less than the higher of the regulatory pricing formula or the issue price, and the term infrequently traded uses the referenced takeover regulation definition with the filing date as the turnover reference date.
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.
Promoters' contribution exemption applies where no identifiable promoter, infrequently traded further public offers, or rights issues.
Regulation 34 disapplies the requirement of minimum promoters' contribution where an issuer lacks an identifiable promoter, where a further public offer concerns equity that has been infrequently traded and the issuer has a recent dividend payment track record, and for rights issues; excess promoter subscriptions above prescribed thresholds must be at a price not less than the higher of the regulatory pricing formula or the issue price, and the term infrequently traded uses the referenced takeover regulation definition with the filing date as the turnover reference date.
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