General Information Document
Summary
This circular mandates the use of a General Information Document (GID) for generic disclosures in capital issues, superseding previous guidelines. It requires Lead Managers to ensure the GID is updated with the last updation date and made available on relevant websites upon investor request. The provisions apply to all Red Herring Prospectuses or Prospectuses filed on or after March 17, 2020.
Text
Regulation 34(1) read with Schedule VI, Part E of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, inter alia specify that information which is of generic nature and not specific to the issuer be brought out in the form of a General Information Document (GID) as specified by the Board.
In pursuance of the above, the generic disclosures to be brought out in the General Information Document are enumerated in the Annexure.
All Merchant Bankers are advised to take note of the contents of GID in the Annexure. Accordingly, generic information need not be provided in the Abridged Prospectus.
the GID should explicitly incorporate the date of last updation;
the updated copy of GID is provided to an investor as and when requested, in form and manner so requested by the investor;
the updated GID is made available on the websites of the: - Stock Exchange(s) where the shares pursuant to an issue are proposed to be listed; and respective Lead Manager(s) to the issue, where DRHP / RHP / Draft Prospectus / Prospectus is made available
This circular shall become applicable to all RHP / Prospectus which shall be filed with the Registrar of Companies on or after March 17, 2020.
The present Circular is issued in supersession of the Circular dated October 23, 2013.
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 and 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 — General Information Document. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.