Amendments to SEBI (Disclosure and Investor Protection) {DIP} Guidelines, 2000

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..... e efficient and transparent, it has been decided to adopt the following policy: (a) Lock-in on pre-IPO shares before Initial Public Offering (IPO) held by Venture Capital Funds and Foreign Venture Capital Investors Presently, as per SEBI (DIP) Guidelines, 2000, pre-issue shares of an unlisted company making an Initial Public Offering (IPO) are not required to be locked in, if the same are held .....

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..... lines, 2000 are being amended to give effect to the above policy. A copy of the amendment is enclosed at Annexure I. 3. Applicability The amendment regarding lock-in made vide this circular shall be applicable to all offer documents, which are yet to be registered with the Registrar of Companies. 4. This circular is being issued in exercise of the powers conferred under sub-section (1) of Secti .....

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..... nd or a Foreign Venture Capital Investor, subject to the following conditions: (a) the shares have been held by the Venture Capital Fund or the Foreign Venture Capital Investor, as the case may be, for a period of at least one year as on the date of filing draft prospectus with the Board; Explanation: (I) If the shares being held by the Venture Capital Fund or Foreign Venture Capital Investor h .....

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