Amendments to the SEBI (Disclosure and Investor Protection) Guidelines, 2000

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..... Accordingly, the amendments that have been made in the Guidelines are enclosed. Further, the existing clause 8.2.2.1 stands deleted as the same appears as clause 8.21.2 of the guidelines. These amendments shall come into force from the date of the circular. Yours faithfully, R.M. JOSHI Executive Director AMENDMENT TO SEBI (DISCLOSURE AND INVESTOR PROTECTION ) GUIDELINES, 2000 CHAPTER VIII - OTHER ISSUE REQUIREMENTS 1. The existing clause 8.2 shall be substituted by the following : 8.2 Public issue and listing of non-convertible debt securities (hereinafter referred to as NCDS) and Debt Securities convertible into equity after .....

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..... of equity shares. The issuer company shall agree to obtain prior consent of the holders of the NCDS through special resolution to be passed at the general meeting of the NCDS holders for change in terms of issue, change in capital structure and change in shareholding pattern. There shall be no partly paid up shares/other securities at the time of filing of draft offer document with the Board. The issuer company may come out with a public issue of equity/security convertible into equity after allotment during the currency of the NCDS or thereafter, only after complying with the guidelines applicable for an initial public offering of such securities. The equity held b .....

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..... d by the promoters and others may be listed along with the listing of equity in initial public offering of equity/security convertible into equity after allotment or at the time of listing if equity arising on conversion of the DSCE . If the equity shares held by the promoters is proposed to be listed on conversion of DSCE, it shall be ensured that the number of equity shares allotted to the public (after excluding the allotment of equity shares to holders of DSCE issued on firm allotment/reservation basis) as a percentage of the total paid up equity capital after conversion and listing of the promoters equity, is not less than the percentage specified in clause (b) of sub-rule (2) of Rule 19 of Securities Contracts (Regu .....

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