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TMI BlogEligibility requirements for an initial public offerX X X X Extracts X X X X X X X X Extracts X X X X ..... crore rupees, calculated on a restated and consolidated basis, in each of the preceding three full years (of twelve months each), of which not more than fifty per cent. are held in monetary assets: Provided that if more than fifty per cent. of the net tangible assets are held in monetary assets, the issuer has utilised or made firm commitments to utilise such excess monetary assets in its business ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... activity indicated by its new name. (2) An issuer not satisfying the condition stipulated in sub-regulation (1) shall be eligible to make an initial public offer only if the issue is made through the book-building process and the issuer undertakes to allot at least seventy five per cent. of the net offer to qualified institutional buyers and to refund the full subscription money if it fails to do ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dered but not that of his shareholding in the issuer company. ] iii. The SR shares were issued only to the promoters/ founders who hold an executive position in the issuer company; iv. The issue of SR equity shares had been authorized by a special resolution passed at a general meeting of the shareholders of the issuer, where the notice calling for such general meeting specifically provided for - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ame face value as the ordinary shares; viii. The issuer shall only have one class of SR equity shares; ix. The SR equity shares shall be equivalent to ordinary equity shares in all respects, except for having superior voting rights. ] ********** NOTES:- 1. Inserted vide Notification No. SEBI/LAD-NRO/GN/2019/29 dated 29-07-2019 2. Substituted vide Notification No. SEBI/LAD-NRO/GN/2021/52 dated 26-1 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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