Requirement of minimum promoters’ contribution not applicable in certain cases

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....case of: (a) an issuer which does not have any identifiable promoter; (b) a further public offer, where the equity shares 1[of the issuer] 2[***] are not infrequently traded in a recognised stock exchange for a period of at least three years and the issuer has a track record of dividend payment for at least immediately preceding three years: Provided that where promoters propose to subscribe t....