Securities and Exchange Board of India (Issue of Capital And Disclosure Requirements) (Fourth Amendment) Regulations, 2015 - SEBI/LAD-NRO/GN/2015-16/008 - SEBI
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Institutional trading platform listing: new regime setting eligibility, allocation and lock-in rules for targeted listings. The amendment creates Chapter XC establishing an institutional trading platform regime: defining the platform and institutional investors, setting eligibility criteria based on pre-issue institutional holding, and capping post-issue concentration. It prescribes separate procedures for listing without a public issue-requiring draft information document filing, in-principle exchange approval, waivers of public-offer provisions and minimum public shareholding-and for public-issue listings-specifying application size, allotment allocations between institutional and non-institutional investors, and disclosure obligations. Rules on lock-in, trading lot, exit, migration to main board, fees and disclosure formats are also specified.
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Provisions expressly mentioned in the judgment/order text.
Institutional trading platform listing: new regime setting eligibility, allocation and lock-in rules for targeted listings.
The amendment creates Chapter XC establishing an institutional trading platform regime: defining the platform and institutional investors, setting eligibility criteria based on pre-issue institutional holding, and capping post-issue concentration. It prescribes separate procedures for listing without a public issue-requiring draft information document filing, in-principle exchange approval, waivers of public-offer provisions and minimum public shareholding-and for public-issue listings-specifying application size, allotment allocations between institutional and non-institutional investors, and disclosure obligations. Rules on lock-in, trading lot, exit, migration to main board, fees and disclosure formats are also specified.
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