Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Amendment) Regulations, 2024. - SEBI/LAD-NRO/GN/2024/178 - SEBI

Shareholder eligibility expansion: substantial non individual public shareholders and promoter group entities recognised for contribution and lock in rules.

The ICDR amendments add non individual public shareholders holding at least five per cent. of post issue capital and entities forming part of the promoter group (other than promoters) to multiple contribution, lock in and holding period provisions; permit equity from conversion of fully paid compulsorily convertible securities held by specified holders to be treated as eligible where held for at least one year and converted before filing with full disclosure; shorten various procedural timelines from three working days to one working day and add 'unforeseen' to refine such circumstances; omit several regulations; and incorporate the LODR regulation 30(11) framework to exclude price effects from material price movement when determining preferential and issue pricing, with technical changes to schedules on issue size disclosure in rupee value.