Regulation 290 - Exit of issuers whose securities are trading without making a public offer - Securities And Exchange Board of India (Issue Of Capital And Disclosure Requirements) Regulations, 2018

Exit of issuers whose securities are trading without making a public offer 290. An issuer whose specified securities are traded on the 1 [ innovators growth platform ] without making a public issue may exit from that platform, if a) its shareholders approve such an exit by passing a special resolution through postal ballot where ninety per cent of the total votes and the majority of non-promoter votes have been cast in favor of such proposal; and b) the recognised stock exchange where its shares are listed approves of such an exit. ************** NOTES:- 1. Substituted vide NOTIFICATION No. SEBI/LAD-NRO/GN/2019/08 dated 05-04-2019 before it was read as institutional trading platform