Relaxations relating to procedural matters –Issues and Listing
Summary
SEBI extends the validity of relaxations regarding procedural matters for Rights Issues until March 31, 2021. This extension applies to issuers who continue to comply with specific conditions outlined in a previous circular from May 6, 2020. The directive is issued under Section 11(1) read with Section 11A of the SEBI Act, 1992.
Text
The relaxation mentioned in point (iv) of the SEBI Circular No. SEBI/HO/CFD/DIL2/CIR/P/2020/78 dated May 2020 is further extended and shall be applicable for Rights Issues opening upto March 31, 2021 provided the issuer along with the Lead Manager(s) shall continue to comply with point (v) of the SEBI Circular No. SEBI/HO/CFD/DIL2/CIR/P/2020/78 dated May 06, 2020.
This circular is issued in exercise of powers conferred by Section 11(1) read with Section 11A of the Securities and Exchange Board of India Act, 1992 read with Regulations 299 and 300 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.
Source: SecMarx — Relaxations relating to procedural matters –Issues and Listing. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.