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TMI BlogMinimum promoters’ contributionX X X X Extracts X X X X X X X X Extracts X X X X ..... han twenty per cent. of the post issue capital 1[:] 2[Provided that in case the post issue shareholding of the promoters is less than twenty per cent., alternative investment funds may contribute for the purpose of meeting the shortfall in minimum contribution as specified for promoters, subject to a maximum of ten per cent of the post issue capital.] (b) in case of a further public offer, eithe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sclosed in the offer document, the promoters shall contribute only by way of subscription to the convertible securities being issued in the public issue and shall undertake in writing to subscribe to the equity shares pursuant to conversion of such securities. (b) in case of any issue of convertible securities which are convertible or exchangeable on different dates and if the promoters' contribu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ctive stage vis-à-vis the debt raised or proposed to be raised through the public issue. (3) In case of a further public offer or composite issue where the promoters contribute more than the stipulated minimum promoters' contribution, the allotment with respect to excess contribution shall be made at a price determined in terms of the provisions of regulation 76 or the issue price, whichev ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he calls are made to public. Explanation: For the purpose of this regulation: (I) Promoters' contribution shall be computed on the basis of the post-issue expanded capital: (a) assuming full proposed conversion of convertible securities into equity shares; (b) assuming exercise of all vested options, where any employee stock options are outstanding at the time of initial public offer in terms ..... X X X X Extracts X X X X X X X X Extracts X X X X
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