Regulation 12A - Allotment of securities and payment of interest - Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008

1 [Allotment of securities and payment of interest. 12A. (1) The Issuer shall ensure that that in case of listing of debt securities issued to public, allotment of securities offered to public shall be made within thirty days of the closure of the public issue. (2) Where the debt securities are not allotted and/or application moneys are not refunded within the stipulated period in sub-regulation (1), the issuer shall undertake to pay interest at the rate of fifteen per cent. per annum. (3) Credit to demat accounts of the allottees shall be made within two working days from the date of allotment. ] *************** NOTES:- 1. Inserted vide Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 w.e.f. ninetieth day from the date of their publication in the Official Gazette