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Corporate Laws Central Ministry of Finance Securities and Exchange Board of India Act, 1992

Reiteration of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Amendment) Regulations, 2024

25-May-2024 | BSE Notice No. 20240525-1

BSE has reiterated Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Amendment) Regulations, 2024. Key highlights of amendment: - 1. In regulation 14 (1) in the first proviso (Minimum promoters contribution) - after the words 'Insurance Regulatory and Development Authority of India' and before the words 'may contribute', the words and symbols 'or any non-individual public shareholder holding at least five per cent of the post-issue capital or any entity (individual or non-individual) forming part of promoter group other than the promoter(s)' is inserted. 2. In regulation 16 (1) (Lock-in of specified securities held by the promoters) - in clause a, after the words 'Insurance Regulatory and Development Authority of India' and before the words 'referred to in proviso to', the words and symbols 'or any non-individual public shareholder holding at least five per cent. of the post-issue capital or any entity (individual or non-individual) forming part of promoter group other than the promoter(s)' is inserted. 3. In regulation 46(3), in case of force majeure, banking strike or unforeseen circumstances, the issuer may, for reasons to be recorded in writing, extend the bidding (issue) period disclosed in the red herring prospectus (in case of a book built issue) or the issue period disclosed in the prospectus (in case of a fixed price issue), for a minimum period of one working days. 4. Regulation 80,135, 197, 259 is omitted. For detailed information, please refer to the attached document.

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