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

Relaxations relating to procedural matters-Issues and Listing

22-Apr-2021 | SEBI/HO/CFD/DIL2/CIR/P/2021/552

SEBI vide Circular no. SEBI/HO/CFD/DIL2/CIR/P/2020/78 dated May 6, 2020, granted one time relaxations from strict enforcement of certain Regulations of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, pertaining to Rights Issue opening up to July 31, 2020, which was further extended for Rights Issues opening up to December 31, 2020. The relaxation mentioned in point (iv) of the said circular was extended till March 31, 2021 vide circular SEBI/HO/CFD/DIL1/CIR/P/2021/13 dated January 19, 2021. Now it has been further extended and shall be applicable for Rights Issues opening up to 30th September 2021 provided the issuer along with the Lead Manager(s) shall continue to comply with point (v) of the said circular. Point iv and v read as follows- iv. Regulation 76 - the issuer shall along with lead manager(s) to the issue, the registrar, and other recognized intermediaries institute an optional mechanism (non-cash mode only) to accept the applications of the shareholders subject to ensuring that no third-party payments shall be allowed in respect of any application. v. The issuer along with Lead Manager(s) shall ensure the following- (a) The mechanism(s) shall only be an additional option. (b) The mechanism(s) shall be transparent, robust, and have adequate checks and balances. (c) Create a FAQ, online dedicated investor helpdesk, and helpline to guide investors. (d) To take responsibility for all investor complaints.

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