Lock-in of specified securities held by persons other than the promoters

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....rsons other than the promoters 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 ^11[sub-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 ....

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....held by a venture capital fund or alternative investment fund of category I or 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 ventur....

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.... period of resultant bonus equity shares together shall be considered for the purpose of calculation 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....

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....;SEBI/LAD-NRO/GN/2021/45. Dated 13-08-2021 before it was read as, "one year" 1A.  Substituted vide Notification No. SEBI/LAD-NRO/GN/2021/45. Dated 13-08-2021 before it was read as, "one year" 2. Inserted vide Notification No. SEBI/LAD-NRO/GN/ 2022/ 63 dated 14-01-2022 3. Numbered vide Notification No. SEBI/LAD-NRO/GN/ 2022/ 63 dated 14-01-2022 4. Substituted ....