TaxTMI 
TaxTMI 
Lock-in of specified securities held by persons other than the promoters
X X X X Extracts X X X X
X X X X Extracts X X X X
....s shall be locked-in for a period of 1[six months] from the date of allotment in the initial public offer: Provided that nothing contained in this regulation shall apply to: a) equity shares allotted to employees, whether currently an employee or not, under an employee stock option or employee stock purchase scheme 7[or a stock appreciation right scheme] of the issuer prior to the initial publi....
X X X X Extracts X X X X
X X X X Extracts X X X X
....r Category II or a foreign venture capital investor: Provided that such equity shares shall be locked in for a period of at least 1A[six months] from the date of purchase by the venture capital fund or alternative investment fund alternative investment fund 2[of Category I or Category II] or foreign venture capital investor. Explanation: 3[(i)] For the purpose of clause (c), in case such e....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... of six months period, subject to the following: (a) that the bonus shares being issued out of free reserves and share premium existing in the books of account as at the end of the financial year preceding the financial year in which the draft offer document is filed with the Board; and (b) that the bonus shares not being issued by utilisation of revaluation reserves or unrealiz....
X X X X Extracts X X X X
X X X X Extracts X X X X
....BI/LAD-NRO/GN/ 2022/ 63 dated 14-01-2022 before it was read as, "one year period" 5. Inserted vide Notification No. SEBI/LAD-NRO/GN/ 2022/ 63 dated 14-01-2022 6. Substituted vide Notification No. SEBI/LAD-NRO/GN/2023/130 dated 23-05-2023 before it was read as, "Securities and Exchange Board of India (Share Based Employee Benefits) Regulations, 2014" 7. Inserted vide F. No. SEBI/....