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TMI BlogSecurities And Exchange Board Of India (Issue of Capital And Disclosure Requirements) (Amendment) Regulations, 2012X X X X Extracts X X X X X X X X Extracts X X X X ..... ulation (2), a new sub-regulation (3) shall be inserted, namely:- (3) Warrants may be issued along with public issue or rights issue of specified securities subject to the following: (a) the tenure of such warrants shall not exceed twelve months from their date of allotment in the public/rights issue; (b) not more than one warrant shall be attached to one specified security. (ii) in regulation 8, in sub-regulation (1), clause (a) shall be substituted with the following, namely:- (a) a certificate, confirming that an agreement has been entered into between the issuer and the lead merchant bankers as per the format specified in Schedule II. (iii) in regulation 8, in sub-regulation (1), clause (b) shall be omitted; (iv) in regulation 13, sub-regulation (6) shall be omitted; (v) in regulation 58, in proviso to sub-regulation (5), the word issue shall be substituted with the word issuer ; (vi) in regulation 71, the following Explanation shall be inserted, namely:- Explanation : Where the relevant date falls on a Weekend/Holiday, the day preceding the Weekend/Holiday will be reckoned to be the relevant date. (vii) in regulation 76, the words ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a copy thereof with the Board and with the stock exchange(s) through the lead merchant banker. (3) The issuer shall file the soft copy of the offer document with the Board as specified in Schedule V, along with the fee as specified in Schedule IV. (4) The offer document shall also be placed on the website of the concerned stock exchange and of the issuer clearly stating that it is in connection with institutional placement programme and that the offer is being made only to the qualified institutional buyers. (5) The merchant banker shall submit to the Board a due diligence certificate as per Form A of Schedule VI, stating that the eligible securities are being issued under institutional placement programme and that the issuer complies with requirements of this Chapter. Pricing and allocation/allotment. 91F. (1) The eligible seller shall announce a floor price or price band at least one day prior to the opening of institutional placement programme. (2) The eligible seller shall have the option to make allocation/allotment as per any of the following methods (a) proportionate basis; (b) price priority basis; or (c) criteria as mentioned in the offer do ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... shall be deemed to be a single allottee. Explanation : For the purpose of sub-regulation (2), the expression qualified institutional buyers belonging to the same group shall have the same meaning as derived from sub-section (11) of section 372 of the Companies Act, 1956; Restrictions on size of the offer. 91-I. (1) The aggregate of all the tranches of institutional placement programme made by the eligible seller shall not result in increase in public shareholding by more than ten per cent. or such lesser per cent. as is required to reach minimum public shareholding. (2) Where the issue has been oversubscribed, an allotment of not more than ten per cent. of the offer size shall be made by the eligible seller. Period of Subscription and display of demand. 91J. (1) The issue shall be kept open for a minimum of one day or maximum of two days. (2) The aggregate demand schedule shall be displayed by stock exchange(s) without disclosing the price. Withdrawal of offer. 91K. The eligible seller shall have the right to withdraw the offer in case it is not fully subscribed. Transferability of eligible securities. 91L. The eligible securities allo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ;s contribution:- Name of the company Date of listing on each stock exchange Fund's shareholding in the company as on the date of listing Fund's shareholding in the company as on the date of filing of the DRHP of the company that now seeks to get listed (e) Average holding period of the Fund's investments; (f) Sector focus/core specialization of the Fund, if applicable. (2) in Part E, after para 6, the following new para (7) shall be inserted, namely:- (7) Full disclosures in the draft letter of offer or letter of offer as the case may be shall be made for warrants issued along with rights issues, regarding the objects towards which the funds from conversions of warrants are proposed to be used. In such cases, the provisions of this Part dealing with Objects of the Issue shall apply, mutatis mutandis. (xv) in Schedule XI, in Part A, in para (10), clause (b) shall be substituted with the following, namely:- (b) Allocation to Anchor Investors shall be on a discretionary basis and subject to the following:- (i) Maximum of 2 such investors shall be permitted for allocation upto ₹ 10 crore; (ii) Minimum of 2 and maximum of 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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