Lock-in of specified securities held by the promoters

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....es held by the promoters shall not be transferable (hereinafter referred to as "lock-in") for the periods as stipulated hereunder: a) minimum promoters' contribution including contribution made by alternative investment funds or foreign venture capital investors or scheduled commercial banks or public financial institutions or insurance companies registered with Insurance Regulatory and D....

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....from the date of allotment in the initial public offer. ^6[Provided that in case the majority of the issue proceeds excluding the portion of offer for sale is proposed to be utilized for capital expenditure, then the lock-in period shall be one year from the date of allotment in the initial public offer.] ^7[Explanation: For the purpose of this sub-regulation, "capital expenditur....

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....e date of commencement of commercial production or date of allotment in the initial public offer, whichever is later" 4. Inserted vide Notification No. SEBI/LAD-NRO/GN/2021/45. Dated 13-08-2021 5. Substituted Vide Notification No. SEBI/LAD-NRO/GN/2021/45. Dated 13-08-2021 before it was read as, "one year" 6.  Inserted vide Notification No. SEBI/LAD-NRO/GN/....