TMI BlogLock-in of specified securities held by persons other than the promotersX X X X Extracts X X X X X X X X Extracts X X X X ..... the promoters shall be locked-in for a period of 1 [ six months ] from the date of allotment in the initial public offer: Provided that nothing contained in this regulation shall apply to: a) equity shares allotted to employees, whether currently an employee or not, under an employee stock option or employee stock purchase scheme of the issuer prior to the initial public offer, if the is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or: Provided that such equity shares shall be locked in for a period of at least 1 [ six months ] from the date of purchase by the venture capital fund or alternative investment fund alternative investment fund 2 [ of Category I or Category II ] or foreign venture capital investor. Explanation: 3 [ (i) ] For the purpose of clause (c), in case such equity shares have resulted pursuan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ollowing: (a) that the bonus shares being issued out of free reserves and share premium existing in the books of account as at the end of the financial year preceding the financial year in which the draft offer document is filed with the Board; and (b) that the bonus shares not being issued by utilisation of revaluation reserves or unrealized profits of the issuer. ] --------- ..... X X X X Extracts X X X X X X X X Extracts X X X X
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