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of <h1>Regulation 91A governs share issuance to meet minimum public shareholding; institutional placements mostly exempt with specific exceptions.</h1> Regulation 91A of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, applies to the issuance of fresh shares or offers for sale by listed issuers to achieve minimum public shareholding as per specific rules. The institutional placement programme is generally exempt from these regulations, except for certain specified regulations and clauses. These exceptions include regulations 2, 5, 12, 18, 19, 47, 48, 51, 59, 60, 61, 64, 65, 66, and 68, as well as specific clauses from regulations 4 and 7.
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