Regulation 162 - Tenure of convertible securities - Securities And Exchange Board of India (Issue Of Capital And Disclosure Requirements) Regulations, 2018

Tenure of convertible securities 162. 1 [ (1) ] The tenure of the convertible securities of the issuer shall not exceed eighteen months from the date of their allotment. 2 [ (2) Upon exercise of the option by the allottee to convert the convertible securities within the tenure specified in sub-regulation (1), the issuer shall ensure that the allotment of equity shares pursuant to exercise of the convertible securities is completed within 15 days from the date of such exercise by the allottee. ] ************ NOTES:- 1. Numbered 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