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of <h1>Venture capital funds cannot list units on stock exchanges until three years post-issuance per Regulation 13.</h1> Regulation 13 of the Securities and Exchange Board of India (Venture Capital Funds) Regulations, 1996, prohibits venture capital funds from listing their units on any recognized stock exchange until three years have passed since the issuance of those units. This regulation was amended in 2000 to specifically refer to units rather than securities or units, clarifying the restriction on listing.
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