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TMI BlogIssue and Pricing of shares by Private Sector Banks, Directions, 2016X X X X Extracts X X X X X X X X Extracts X X X X ..... e Banking Regulation Act, 1949 the Reserve Bank of India being satisfied that it is necessary and expedient in the public interest so to do, hereby, issues the Directions hereinafter specified. CHAPTER I PRELIMINARY 1. Short Title and Commencement a. These Directions shall be called the Reserve Bank of India (Issue and Pricing of Shares by Private Sector Banks) Directions, 2016. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Act, 1934 or SEBI Guidelines or Companies Act and rules made thereunder or as used in commercial parlance, as the case may be. CHAPTER II TYPES OF ISSUES 4. Banks normally issue shares by way of: i) Public Issues a. Initial Public Offer b. Further Public Offer ii) Private Placement a. Preferential Issue b. Qualified Institutional Placement iii) Rights Issue ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iv. Pricing of shares through any of the routes by listed banks shall be as per SEBI formula, while for unlisted banks the pricing shall be as per Companies Act and rules made thereunder. v. Allotment of shares to the investors under any of the routes shall be subject to compliance with the extant RBI Master Directions dated November 19, 2015 on Prior approval for acquisition of shares or vot ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... olution and prospectus / offer document in the format given in the schedule to these Directions. CHAPTER IV REPEAL AND OTHER PROVISIONS 6. With the issue of these Directions, the instructions / guidelines contained in the following circulars issued by the Reserve Bank stand repealed: i. DBOD.No.BC.76/16.13.100/94 dated June 17, 1994. ii. DBOD.No.PSBS.BC.72/16.13.100/98-99 dated Ju ..... X X X X Extracts X X X X X X X X Extracts X X X X
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