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of <h1>SEBI Removes 1% Deposit Requirement for Issuers Under Regulation 38(1), Amends Capital and Disclosure Rules Effective May 2024.</h1> The Securities and Exchange Board of India (SEBI) has withdrawn the requirement for issuer companies to deposit 1% of the issue size with the designated stock exchange under regulation 38(1) of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. This follows an amendment to the regulations effective May 17, 2024. Consequently, the Master Circular on the issuance of No Objection Certificates for the release of this deposit is also withdrawn. Stock exchanges must develop a standard operating procedure for releasing deposits made prior to this amendment. The circular is effective immediately, and exchanges are to update their rules accordingly.
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