Pricing of equity shares: allotment must meet VWAP based floor and recomputation may require additional payment. Allotment price for preferential issues is set by VWAP-based floors: where shares are listed for twenty six weeks or more, the price must be at least the higher of the twenty six week weekly high low VWAP average or the two week weekly high low VWAP average; where listed for less than twenty six weeks, the price must be at least the higher of the IPO/scheme price, the listing period weekly high low VWAP average, or the two week weekly high low VWAP average; recomputation on completion of twenty six weeks may require allottees to pay any shortfall. Qualified institutional buyer allotments (up to five) use the two week VWAP weekly average.
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.
Pricing of equity shares: allotment must meet VWAP based floor and recomputation may require additional payment.
Allotment price for preferential issues is set by VWAP-based floors: where shares are listed for twenty six weeks or more, the price must be at least the higher of the twenty six week weekly high low VWAP average or the two week weekly high low VWAP average; where listed for less than twenty six weeks, the price must be at least the higher of the IPO/scheme price, the listing period weekly high low VWAP average, or the two week weekly high low VWAP average; recomputation on completion of twenty six weeks may require allottees to pay any shortfall. Qualified institutional buyer allotments (up to five) use the two week VWAP weekly average.
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