TaxTMI 
TaxTMI 
TaxTMI 
Effective date of ASBA Process and clarification on clause 2.8 of SEBI (Disclosure and Investor Protection (DIP)) Guidelines, 2000
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....August 29, 2008 To All Registered Merchant Bankers Dear Sirs, Sub.: Effective date of ASBA Process and clarification on clause 2.8 of SEBI (Disclosure and Investor Protection (DIP)) Guidelines, 2000 In exercise of the powers conferred under sub-section (1) of section 11 of the Securities and Exchange Board of India Act, 1992, all merchant bankers are informed as under: (1) Effective date of ....
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....c issues made through book building route, opening on or after September 1, 2008. (2) Clarification on clause 2.8 of the SEBI (DIP) Guidelines, 2000 (a) Clause 2.8 of the SEBI (DIP) Guidelines, 2000 states as under: "No company shall make a public or a rights issue of securities unless firm arrangements of finance through verifiable means towards 75% of the stated means of finance, excluding ....
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....mpanies raising funds for mega projects with debt funding requirement of at least ₹ 1000 crores, it has been decided that the abovementioned clause 2.8 shall be deemed to have been complied with, if the following conditions are satisfied: (i) The issuer company has obtained "in-principle sanction" letters for the proposed debt funding from all the relevant financial institutions/ banks; ....
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....#8377; 10,000 crores). For meeting the gap of ₹ 7500 crores, if the promoters were to give a guarantee, the promoters must have a minimum unencumbered net worth of ₹ 22,727.28 crores. If the measurable unencumbered net worth of the promoters is less than ₹ 22,727.28 crores, then the amount of firm arrangement which can be arranged through promoters' measurable unencumbered net wo....