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of <h1>SEBI Guidelines: Promoters Must Contribute 20% Capital, Lock-In for 3 Years in Public Issues</h1> The SEBI Disclosure and Investor Protection Guidelines 2000 outline the requirements for promoters' contribution and lock-in periods in public issues. Promoters must contribute at least 20% of the post-issue capital in public issues by unlisted companies and maintain similar levels in offers for sale and issues by listed companies. Certain securities are ineligible for promoters' contribution, including those acquired through non-cash transactions or at lower prices within specific time frames. Lock-in requirements mandate that promoters' contributions be locked for three years, with additional provisions for excess contributions and pre-issue share capital. Exemptions apply under specific conditions, such as established track records or lack of identifiable promoters.
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