Amendments to SEBI (Disclosure and Investor Protection) Guidelines, 2000
Summary
This circular corrects an inadvertent omission in the SEBI (Disclosure and Investor Protection) Guidelines, 2000, specifically regarding clause 2.1.2. The missing phrase 'where the aggregate value of such securities, including premium, if any, exceeds Rs. 50 lacs' is restored to the opening paragraph. This restoration imposes a requirement for listed issuers to file a draft letter of offer with the Board via a Merchant Banker at least 30 days prior to filing with the Designated Stock Exchange when the threshold is exceeded.
Text
No listed issuer company shall make any rights issue of securities, where the aggregate value of such securities, including premium, if any, exceeds Rs. 50 lacs, unless a draft letter of offer has been filed with the Board, through a Merchant Banker, at least 30 days prior to the filing of the letter of offer with the Designated Stock Exchange (DSE).
Source: SecMarx — Amendments to SEBI (Disclosure and Investor Protection) Guidelines, 2000. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.