Zero Coupon Zero Principal Instrument issuance: minimum subscription thresholds and procedural safeguards govern issuance, refunds, and exchange reporting. Regulation 292N required Zero Coupon Zero Principal Instruments to be issued in dematerialized form, mandated minimum issue and application sizes, and imposed a minimum subscription threshold for a valid issue. It required disclosure by the issuer on measures to raise balance capital and on impacts to social objectives in cases of partial under subscription, mandated refunds where subscription fell below the threshold, and obliged the Social Stock Exchange to maintain allotment details and to specify additional issue procedure norms including depository and banking agreements, ASBA matters, issuance duration and allocation methodology.
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Provisions expressly mentioned in the judgment/order text.
Zero Coupon Zero Principal Instrument issuance: minimum subscription thresholds and procedural safeguards govern issuance, refunds, and exchange reporting.
Regulation 292N required Zero Coupon Zero Principal Instruments to be issued in dematerialized form, mandated minimum issue and application sizes, and imposed a minimum subscription threshold for a valid issue. It required disclosure by the issuer on measures to raise balance capital and on impacts to social objectives in cases of partial under subscription, mandated refunds where subscription fell below the threshold, and obliged the Social Stock Exchange to maintain allotment details and to specify additional issue procedure norms including depository and banking agreements, ASBA matters, issuance duration and allocation methodology.
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