TaxTMI 
TaxTMI 
Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Second Amendment) Regulations, 2023
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.... "Securities and Exchange Board of India (Share Based Employee Benefits) Regulations, 2014" wherever they appear, shall be substituted with the words "Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021". II. in regulation 2, in sub-regulation (1), in clause (ss), in sub-clause (ix), after the words "a pension fund with minimum corpus of twenty five crore rupees", the words "registered with the Pension Fund Regulatory and Development Authority established under sub-section (1) of section 3 of the Pension Fund Regulatory and Development Authority Act, 2013" shall be inserted. III. in regulation 26, in sub-regulation (1), after the words "by hosting it on the websites of" and before the words "the Board", the words and symbol "the issuer," shall be inserted. IV. regulation 40 shall be substituted with the following regulation, namely: "Underwriting 40. (1) If the issuer making an initial public offer, other than through the book building process, desires to have the issue underwritten to cover under-subscription in the issue, it shall, prior to the filing of the prospectus, enter into a....
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....he fact of such underwriting agreement in the red herring prospectus. (d)if the syndicate member(s) fail to fulfil their underwriting obligations, the lead manager(s) shall fulfil the underwriting obligations. (e) the lead manager(s) and syndicate member(s) shall not subscribe to the issue in any manner except for fulfilling their underwriting obligations. (f) in case of every underwritten issue, the lead manager(s) shall undertake minimum underwriting obligations as specified in the Securities and Exchange Board of India (Merchant Bankers) Regulations, 1992. (g) where the issue is required to be underwritten, the underwriting obligations should be at least to the extent of minimum subscription." V. in regulation 59C, in sub-regulation (9), after the words "by hosting it on the websites of" and before the words "the Board", the words and symbol "the issuer," shall be inserted. VI. in regulation 72, in sub-regulation (1), after the words "by hosting it on the websites of" and before the words "the Board", the words and symbol "the issuer," shall be inserted. VII. in regulation 124, in sub-regulation (1), afte....
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....s. (c) if the issuer desires to have the issue underwritten to cover under-subscription in the issue, it shall, prior to the filing of the red herring prospectus, enter into an underwriting agreement with the lead manager(s) and syndicate member(s) to act as underwriters, indicating therein the maximum number of specified securities they shall subscribe to, either by themselves or by procuring subscription, at a price which shall not be less than the issue price, and shall disclose the fact of such underwriting agreement in the red herring prospectus. (d)if the syndicate member(s) fail to fulfil their underwriting obligations, the lead manager(s) shall fulfil the underwriting obligations. (e) the lead manager(s) and syndicate member(s) shall not subscribe to the issue in any manner except for fulfilling their underwriting obligations. (f) in case of every underwritten issue, the lead manager(s) shall undertake minimum underwriting obligations as specified in the Securities and Exchange Board of India (Merchant Bankers) Regulations, 1992. (g) where the issue is required to be underwritten, the underwriting obligations should be at least t....
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.... "Provided that the material contracts shall also be made available for inspection through online means." XIV. in Schedule XIII, in Part A, (i) in clause 3, in sub-clause (b), after the words "prior to filing of the prospectus", the words "or the red herring prospectus, as the case may be" shall be inserted. (ii) in clause 3, in sub-clause (c), after the words "printed in the prospectus" and before the words "before it is filed with the Registrar of Companies", the words "or the red herring prospectus, as the case may be" shall be inserted. (iii) in clause 10, in sub-clause (k), (a) after the words "corporate bodies and family offices" and before the words "which are associate of the lead manager", the words "sponsored by the entities" shall be deleted. (b) before symbol and word "nor", the words "or pension funds sponsored by entities which are associate of the lead manager" shall be inserted. BABITHA RAYUDU, Executive Director [ADVT.-III/4/Exty./119/2023-24] Footnotes: 1. The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 was published in the Gazette....
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....20/17. (l) June 22, 2020 by the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Second Amendment) Regulations, 2020, vide notification No. SEBI/LADNRO/ GN/2020/18. (m) July 1, 2020 by the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Third Amendment) Regulations, 2020, vide notification No. SEBI/LADNRO/ GN/2020/21. (n) September 28, 2020 by the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Fourth Amendment) Regulations, 2020, vide notification No. SEBI/LADNRO/ GN/2020/31. (o) January 8, 2021 by the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Amendment) Regulations, 2021, vide notification No. SEBI/LADNRO/ GN/2021/03. (p) May 5, 2021 by the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Second Amendment) Regulations, 2021, vide notification No. SEBI/LADNRO/ GN/2021/18. (q) August 3, 2021 by the Securities and Exchange Board of India (Regulatory Sandbox) (Amendment) Regulations, 2021, vide notification No. SEBI/LAD-NRO/GN/2021/30.....