Relaxations from certain provisions of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 in respect of Rights Issue

Rights Issue Relaxation: temporary easing of eligibility, subscription and filing thresholds to facilitate fundraising.

Temporary relaxations permit issuers to use the fast track rights route with modified Regulation 99 criteria: shorter qualifying periods, lower financial thresholds, amended treatment of prior regulatory actions requiring disclosure in the letter of offer, settlement compliance, and restatement or disclosure of audit-qualified financials; minimum subscription rules are adjusted so issues subscribed between seventy-five and ninety percent qualify if specified utilization conditions are met, and the draft letter of offer filing threshold is raised while other eligibility and general conditions continue to apply.