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of <h1>SEBI's Third Amendment 2019 Introduces SR Equity Shares with Superior Voting Rights for Tech Firms in IPOs.</h1> The Securities and Exchange Board of India (SEBI) issued the Third Amendment Regulations, 2019, to the Issue of Capital and Disclosure Requirements, 2018. This amendment introduces 'SR equity shares,' which grant superior voting rights compared to ordinary shares. Issuers with SR equity shares can only offer ordinary shares in an initial public offering, provided they meet specific conditions, including technological intensity and a net worth cap for the promoter group. SR equity shares must be held for at least six months before filing a prospectus and have a voting rights ratio between 2:1 and 10:1. These shares are subject to lock-in periods and specific rights and restrictions.
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