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Utilization of issue proceeds

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Full Text of the Document

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....ted in the offer document or placement memorandum. (2) Where the proceeds of the issue are earmarked for a defined project or a set of projects, prior requisite approvals, if applicable shall be obtained from the concerned authorities. (3) The issuers shall maintain a bank account in which the amount raised from the issue shall be immediately transferred after the closure of the issue and such....

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