Regulation 292N - Other conditions relating to issuance of Zero Coupon Zero Principal Instruments - Securities And Exchange Board of India (Issue Of Capital And Disclosure Requirements) Regulations, 2018

2 [****] ************** NOTES:- 1. Inserted vide F. No. SEBI/LAD-NRO/GN/2022/90 dated 25-07-2022 2. Omitted vide Notification No. SEBI/LAD-NRO/GN/2023/162 dated 21-12-2023 before it was read as, 1 [Other conditions relating to issuance of Zero Coupon Zero Principal Instruments 292N (1) Zero Coupon Zero Principal Instruments shall be issued in dematerialized form only. (2) The minimum issue size shall be rupees one crore. (3) The minimum application size shall be rupees two lakhs. (4) The minimum subscription required to be achieved shall be 75% of the funds proposed to be raised through issuance of Zero Coupon Zero Principal Instruments. (5) In case of any under subscription, the Not for Profit Organization shall, in the fund raising document, provide details on the following: (a) manner of raising balance capital in case of such under subscription between 75% and 100%; (b) possible impact on achieving the social objective(s) in case such under subscription is not arranged: Provided that the funds shall be refunded in case the subscription is less than 75% of the issue size (6) The Social Stock Exchange shall maintain the details of the allotment pursuant to issuance of Zero Coupon Zero Principal Instruments by a Not for Profit Organization. (7) The Social Stock Exchange shall specify the additional norms in respect of issue procedure including on agreements with depositories, banks, etc., ASBA related matters, duration for public issuance, allocation methodology and any other ancillary matter related to issue procedure. ]