9911796707
TMI BlogAmendments to the SEBI (Disclosure and Investor Protection) Guidelines,2000X X X X Extracts X X X X X X X X Extracts X X X X ..... held on April 07, 2000, considered and approved certain modifications in the book building guidelines in order to introduce the facility of 100% book building for companies desirous of coming out with a public issue. Accordingly, the amendments that have been made in the Guidelines are enclosed herewith. These amendments shall come into force for the issues opening on or after December 01, 2001. Yours faithfully, R.M. JOSHI Executive Director AMENDMENTS TO PART B OF CHAPTER XI OF THE SEBI (DIP) GUIDELINES, 2000 1. Title of Part B - 100% Book Building Process shall be substituted by the words Offer to Public through Book Building Process 2. Clause 11.3 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uyers shall be uniform across the book runner(s)/syndicate members, for each such category. D. Sub clause (xii) shall be deleted. D. A new sub-clause xvii(a) after xvii shall be inserted as under Bids for securities beyond the investment limit prescribed under relevant laws shall not be accepted by the syndicate members from any category of investors. F. After the existing sub clause (xx), a new sub clause (xx)(a) shall be inserted as under : - The online, real time graphical display of demand and bid prices at the bidding terminals, shall be made. The book running lead manager shall ensure the availability of adequate infrastructure for data entry of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ub clause (vi) the words Institutional investors shall be substituted by the words Qualified Institutional Buyers . 6. In clause 11.3.5 A. Sub clauses (i ) (ii) shall be substituted as under : - (i) In case an issuer company makes an issue of 100% of the net offer to public through 100% book building process - a. not less than 25% of the net offer to the public shall be available for allocation to retail individual investors i.e. investors applying for upto 1000 securities; b. not less than 15% of the net offer to the public shall be available for allocation to non institutional investors i.e. investors applying for more than 1000 securities; ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , the undersubscribed portion may be allocated to the bidders in the other categories. 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. D. In sub clause (v) (a), the words For the class of investors other than those mentioned at clauses (i) and (ii) of this clause, the allocation , before the words the allocation shall be determined shall be substituted by the words The allocation to the Qualified Institutional Buyers E. Sub clause (v)( b) {w ..... X X X X Extracts X X X X X X X X Extracts X X X X
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