Aggregate value threshold for rights issues: draft letter of offer must be filed through a merchant banker 30 days before DSE filing. Amendment restores an omitted eligibility threshold in the SEBI (Disclosure and Investor Protection) Guidelines, 2000: no listed issuer may make a rights issue exceeding the aggregate value threshold unless a draft letter of offer is filed with the Board through a Merchant Banker at least thirty days prior to filing the letter of offer with the Designated Stock Exchange, thereby preserving the Merchant Banker-mediated filing and Board review requirement for substantive rights issues.
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Aggregate value threshold for rights issues: draft letter of offer must be filed through a merchant banker 30 days before DSE filing.
Amendment restores an omitted eligibility threshold in the SEBI (Disclosure and Investor Protection) Guidelines, 2000: no listed issuer may make a rights issue exceeding the aggregate value threshold unless a draft letter of offer is filed with the Board through a Merchant Banker at least thirty days prior to filing the letter of offer with the Designated Stock Exchange, thereby preserving the Merchant Banker-mediated filing and Board review requirement for substantive rights issues.
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