Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Third Amendment) Regulations, 2021 - SEBI/LAD-NRO/GN/2021/45 - SEBI
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Lock-in period changes reduce mandated holding durations and add capital expenditure exceptions altering IPO and follow-on timelines. Amendments shorten default post offer retention periods by substituting shorter allotment based lock in timeframes while inserting provisos that reimpose extended lock ins when the majority of issue proceeds (excluding offer for sale) are proposed for capital expenditure; explanatory text defines 'capital expenditure' to include civil works, fixed assets, land, building and plant and machinery. Parallel substitutions reduce other holding periods and adjust provisos; Schedule VI is amended to refine group company disclosure, require names and addresses in the offer document, and mandate hosting of audited financial metrics of top group companies on their websites.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Lock-in period changes reduce mandated holding durations and add capital expenditure exceptions altering IPO and follow-on timelines.
Amendments shorten default post offer retention periods by substituting shorter allotment based lock in timeframes while inserting provisos that reimpose extended lock ins when the majority of issue proceeds (excluding offer for sale) are proposed for capital expenditure; explanatory text defines "capital expenditure" to include civil works, fixed assets, land, building and plant and machinery. Parallel substitutions reduce other holding periods and adjust provisos; Schedule VI is amended to refine group company disclosure, require names and addresses in the offer document, and mandate hosting of audited financial metrics of top group companies on their websites.
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