Regulation 160 - Conditions for preferential issue - Securities And Exchange Board of India (Issue Of Capital And Disclosure Requirements) Regulations, 2018

PART II: CONDITIONS FOR PREFERENTIAL ISSUE Conditions for preferential issue 160. A listed issuer making a preferential issue of specified securities shall ensure that: a) all equity shares allotted by way of preferential issue shall be made fully paid up at the time of the allotment; b) a special resolution has been passed by its shareholders; c) all equity shares held by the proposed allottees in the issuer are in dematerialised form 1 [ before an application seeking in-principle approval is made by the issuer to the stock exchange(s) where its equity shares are listed ] ; d) the issuer is in compliance with the conditions for continuous listing of equity shares as specified in the listing agreement with the stock exchange where the equity shares of the issuer are listed and the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements), 2015 , as amended, and any circular or notification issued by the Board thereunder; e) the issuer has obtained the Permanent Account Numbers of the proposed allottees, except those allottees which may be exempt from specifying their Permanent Account Number for transacting in the securities market by the Board 2 [ before an application seeking in-principle approval is made by the issuer to the stock exchange(s) where its equity shares are listed ] . 3 [ (f) the issuer has made an application seeking in-principle approval to the stock exchange(s), where its equity shares are listed, on the same day when the notice has been sent in respect of the general meeting seeking shareholders approval by way of special resolution. ] ************ NOTES:- 1. Inserted vide Notification No. SEBI/LAD-NRO/GN/ 2022/ 63 dated 14-01-2022 2. Inserted vide Notification No. SEBI/LAD-NRO/GN/ 2022/ 63 dated 14-01-2022 3. Inserted vide Notification No. SEBI/LAD-NRO/GN/ 2022/ 63 dated 14-01-2022