The Securities and Exchange Board of India (“SEBI”) has revised and updated the format for disclosures in the abridged Prospectus and provided instructions to investors for completing the application form. This has been done to provide greater clarity and consistency in the disclosures across various documents and to provide additional but critical information in the abridged Prospectus.
Issuer/ Merchant Bankers/ syndicate members like brokers who are involved in the public issue must disclose the same on their websites during the period a public issue is kept open. Additionally, a copy of the Abridged Prospectus must be made available on the website of issuer, merchant bankers, registrar to an issuer and a link for downloading Abridged Prospectus must be provided in the advertisement for the public issue. A Quick Response (QR) code must be inserted on the last page of the Abridged Prospectus and on the front page of the documents such as front outside cover page, advertisement, etc. as deemed fit, which would lead to the Prospectus.
The new format must be used for all public issues opening on or after October 1, 2023.
Please refer to the hyperlink below for a detailed read.
Source : Securities and Exchange Board of India
