9911796707
TMI BlogAmendments to the SEBI (Disclosure and Investor Protection) {DIP} Guidelines, 2000X X X X Extracts X X X X X X X X Extracts X X X X ..... for modifying the provisions mainly pertaining to the book building process. 2.0 The amendments are detailed in the Annexure and are categorized and summarized as follows: 2.1 Enhancing the allocation category for retail individual investors At present, in a book built issue allocation to Retail Individual Investors (RIIs), Non Institutional Investors (NIIs) and Qualified Institutional Buyers (QIBs) is in the ratio of 25: 25: 50 respectively. SEBI has decided to increase the allocation to RIIs from the existing 25% to 35% and correspondingly reduce the allocation to NIIs from the existing 25% to 15%. Further, in case the book built issues are made pursuant to the requirement of mandatory allocation of 60% to QIBs in terms of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nes inter alia to (i) improve the contents of and to ensure uniformity in data display on the websites of the concerned stock exchanges and (ii) to ensure availability of data for a further period of 3 days after the closure of the bids/issue. 3.0 Applicability 3.1 All the amendments made vide this circular, except the one at sr.no 2.5 above, shall be applicable to those public issues whose draft offer documents are filed with SEBI on or after April 4, 2005. 3.2 The concerned stock exchanges are requested to put adequate systems in place to ensure compliance with the amendments at sr.no.2.5 above. The same may be done at the earliest and in any case not later than 90 days from the date of issuance of this circular. 4.0 This ci ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... disclosed one before the opening of the bid; (b) a statement that the investors may be guided in the meantime by the secondary market prices; (c) names and editions of the newspapers where the announcement of the floor price or price band would be made; (d) names of websites (with address), journals or other media in which the said announcement will be made. 3. In clause 11.3.2, after sub-clause (iii), the following sub-clauses shall be inserted, namely: (iv) the broad parameters on which allocation is proposed to be made to Qualified Institutional Buyers (v) the proposed manner of allocation among respective categories of investors, in the event of under subscription. 4. In clause 11.3.4.1(i) a. for the words ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... In the event of under subscription in any category, the undersubscribed portion shall be allocated to the bidders as per disclosures made in terms of clause 11.3.2(v). Provided that, the unsubscribed portion in the Qualified Institutional Buyer category, shall not be available for subscription to other categories, in case the issuer company has made an issue of securities under clause 2.2.2 or clause 2.3.2 of these guidelines.) 9. Sub clause (v)(a) of clause 11.3.5 shall be substituted with the following, namely : The allocation to QIBs shall be made as per disclosures made in terms of clause 11.3.2(iv) SCHEDULES 10. In Schedule XXIX under serial no. (o), the item numbered as (s) shall be renumbered as (iv) 11. Aft ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s) 3 (a) Cut off 3 (b) Price bids 4 Reservation categories, if any 4(a) Cut off 4(b) Price bids Notes: 1. The graph should have the title Graphical display of bids received . 2. A statement to the effect that the posit ..... X X X X Extracts X X X X X X X X Extracts X X X X
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