Amendments to SEBI (Disclosure and Investor Protection) {DIP} Guidelines, 2000

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..... 1. In order to make Indian primary market more efficient and transparent, it has been decided to adopt the following policy: (a) Lock-in on pre-IPO shares before Initial Public Offering (IPO) held by Venture Capital Funds and Foreign Venture Capital Investors Presently, as per SEBI (DIP) Guidelines, 2000, pre-issue shares of an unlisted company making an Initial Public Offer....

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....on the date of filing the draft prospectus with SEBI. 2. The SEBI (DIP) Guidelines, 2000 are being amended to give effect to the above policy. A copy of the amendment is enclosed at Annexure I. 3. Applicability The amendment regarding lock-in made vide this circular shall be applicable to all offer documents, which are yet to be registered with the Registrar of Companies. 4. This circu....

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....g sub-clause and Explanation: "(i) pre-issue shares held by a Venture Capital Fund or a Foreign Venture Capital Investor, subject to the following conditions: (a)    the shares have been held by the Venture Capital Fund or the Foreign Venture Capital Investor, as the case may be, for a period of at least one year as on the date of filing draft prospectus with the Board; Exp....