The Securities and Exchange Board of India (“SEBI”) has, in a Notification dated 16th June, 2020, issued the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Amendment) Regulations, 2020 (“Amendment Regulations”) to further amend the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 (“Principal Regulations”), effective 16th June, 2020 i.e. the date of its publication in the Official Gazette.
Amendment under the Amendment Regulations:
| Principal Regulations | Amendment Regulations | Implication |
| Regulation 172. Eligibility conditions
3. The issuer shall not make any subsequent qualified institutions placement until the expiry of six months from the date of the prior qualified institutions placement made pursuant to one or more special resolutions. |
Regulation 172. Eligibility conditions
3. The issuer shall not make any subsequent qualified institutions placement until the expiry of six months two weeks from the date of the prior qualified institutions placement made pursuant to one or more special resolutions. |
The Amendment Regulations have reduced the time limit, from the date of the prior qualified institutions placement, during which the issuer cannot make another subsequent qualified institutions placement from six months to two weeks. |
Source: Securities and Exchange Board of India
