Relaxation with respect to Validity of SEBI Observations and Revision in issue size
Summary
SEBI extends the relaxation regarding revision in issue size up to 50% until March 31, 2021. The validity of SEBI observations expiring between October 1, 2020, and March 31, 2021, is extended to March 31, 2021. This circular comes into force from October 1, 2020, subject to specific compliance undertakings.
Text
the relaxation mentioned at Sr. No. 1(ii) of SEBI Circular no. SEBI/HO/CFD/DIL1/CIR/P/2020/66 dated April 21, 2020 for revision in issue size upto 50% shall continue till March 31, 2021.
the validity of the SEBI observations expiring between October 1, 2020 and March 31, 2021 shall be extended upto March 31, 2021, subject to an undertaking from lead manager to the issue confirming compliance with Schedule XVI of the ICDR Regulations, 2018 while submitting the updated offer document to the Board.
This circular shall come into force with effect from October 01, 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 — Relaxation with respect to Validity of SEBI Observations and Revision in issue size. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.