Validity of SEBI observations extended and updated offer documents required, with stricter price band disclosure before issue opening. The amendments extend the validity of SEBI observation letters to twelve months and require issuers to file an updated offer document with the Board through the lead merchant banker before filing the red herring prospectus/prospectus or letter of offer with the ROC or Designated Stock Exchange; where updates are significant, the updated document must be filed with SEBI at least one month prior to filing with the ROC or stock exchange, and SEBI will specify the procedure for defining significant changes and additional fees.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Validity of SEBI observations extended and updated offer documents required, with stricter price band disclosure before issue opening.
The amendments extend the validity of SEBI observation letters to twelve months and require issuers to file an updated offer document with the Board through the lead merchant banker before filing the red herring prospectus/prospectus or letter of offer with the ROC or Designated Stock Exchange; where updates are significant, the updated document must be filed with SEBI at least one month prior to filing with the ROC or stock exchange, and SEBI will specify the procedure for defining significant changes and additional fees.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
