Regulation 200 - Issue-related advertisements - Securities And Exchange Board of India (Issue Of Capital And Disclosure Requirements) Regulations, 2018

Issue-related advertisements 200. (1)The issuer may release advertisements for issue opening and issue closing, which shall be in the formats specified in Parts B and C of Schedule X. (2) During the period the issue is open for subscription, no advertisement shall be released giving an impression that the issue has been fully subscribed or oversubscribed or indicating investors response to the issue. (3) An announcement regarding closure of the issue shall be made only after the lead manager(s) is satisfied that at least ninety per cent. of the issue has been subscribed and a certificate has been obtained to that effect from the registrar to the issue: Provided that such an announcement shall not be made before the date on which the issue is to be closed except for issue closing advertisement made in the format prescribed in these regulations.