Securities and Exchange Board of India (Issue of Capital and Disclosure requirements) (Second Amendment) Regulations, 2017 - SEBI/LAD-NRO/GN/2017–18/006 - SEBI
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SEBI amends capital-raising rules to require quarterly monitoring reports and public disclosure of issue proceeds utilisation. The amendments add systemically important non-banking financial companies (NBFCs with net worth over five hundred crore) to defined terms, revise regulation 16 to exclude offer-for-sale from issue-size calculations and lower the numeric threshold, require quarterly monitoring agency reports in the Schedule IX format until 95% of proceeds (excluding offer-for-sale and general corporate purposes) are utilised, mandate board and management comments, and require public dissemination of monitoring reports within forty five days; Schedule IX is substituted with a detailed standardized monitoring-report format.
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Provisions expressly mentioned in the judgment/order text.
SEBI amends capital-raising rules to require quarterly monitoring reports and public disclosure of issue proceeds utilisation.
The amendments add systemically important non-banking financial companies (NBFCs with net worth over five hundred crore) to defined terms, revise regulation 16 to exclude offer-for-sale from issue-size calculations and lower the numeric threshold, require quarterly monitoring agency reports in the Schedule IX format until 95% of proceeds (excluding offer-for-sale and general corporate purposes) are utilised, mandate board and management comments, and require public dissemination of monitoring reports within forty five days; Schedule IX is substituted with a detailed standardized monitoring-report format.
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