Public offer allocation revised: reduction in required public portion, proviso removed and reserved shares excluded from calculation. The draft amends the rule on offer composition by reducing the proportion of securities required to be offered to the public, omitting the existing proviso to that clause, and revising the Explanation so that a specified category of reserved securities shall not form part of the public allocation. The amendments are enacted by textual substitution and omission and the rules will commence on final Gazette publication.
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Public offer allocation revised: reduction in required public portion, proviso removed and reserved shares excluded from calculation.
The draft amends the rule on offer composition by reducing the proportion of securities required to be offered to the public, omitting the existing proviso to that clause, and revising the Explanation so that a specified category of reserved securities shall not form part of the public allocation. The amendments are enacted by textual substitution and omission and the rules will commence on final Gazette publication.
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