Regulation 203 - Period of subscription - Securities And Exchange Board of India (Issue Of Capital And Disclosure Requirements) Regulations, 2018

Period of subscription 203. (1) Except as otherwise provided in these regulations, an initial public offer of IDRs shall be kept open for at least three working days and not more than ten working days. (2) In case of a revision in the price band, the issuer shall extend the bidding (issue) period disclosed in the red herring prospectus, for a minimum period of three working days, subject to the provisions of sub-regulation (1). (3) In case of force majeure, banking strike or similar 2 [ 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 1 [ one working day ] , subject to the provisions of sub-regulation (1). ************* NOTES:- 1. Substituted vide Notification No. SEBI/LAD-NRO/GN/2024/178 dated 17-05-2024 before it was read as, three working days 2. Inserted vide Notification No. SEBI/LAD-NRO/GN/2024/178 dated 17-05-2024