Qualified institutions placement pricing must follow a two week average benchmark with limited discount and corporate adjustments. Price for Qualified Institutions Placement must not be less than the average of the weekly high and low of closing prices of the same class of equity shares on the recognised stock exchange with the highest trading volume during the two weeks preceding the relevant date; issuer may offer up to a five percent discount with shareholder approval under regulation 82(a). Convertible or exchangeable securities' underlying equity price is determined on the relevant date disclosed in the special resolution. Partly paid eligible securities are barred, subject to warrant-related exceptions, and prices must be adjusted for specified corporate actions and similar events.
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Provisions expressly mentioned in the judgment/order text.
Qualified institutions placement pricing must follow a two week average benchmark with limited discount and corporate adjustments.
Price for Qualified Institutions Placement must not be less than the average of the weekly high and low of closing prices of the same class of equity shares on the recognised stock exchange with the highest trading volume during the two weeks preceding the relevant date; issuer may offer up to a five percent discount with shareholder approval under regulation 82(a). Convertible or exchangeable securities' underlying equity price is determined on the relevant date disclosed in the special resolution. Partly paid eligible securities are barred, subject to warrant-related exceptions, and prices must be adjusted for specified corporate actions and similar events.
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