Requirement of minimum promoters’ contribution not applicable in certain cases

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..... nimum promoters contribution shall not apply in case of: (a) an issuer which does not have any identifiable promoter; 1 [ (b) where the equity shares of the issuer are frequently traded on a stock exchange for a period of at least three years immediately preceding the reference date, and: (i) the issuer has redressed at least ninety five per cent of the complaints received from the inv .....

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..... ocument about such non-compliances during the three years immediately preceding the date of filing the draft offer document/offer document, it shall be deemed as compliance with the condition: Provided further that where the promoters propose to subscribe to the specified securities offered to the extent greater than higher of the two options available in clause (a) of sub-regulation (1) of reg .....

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..... the issuer has a track record of dividend payment for at least three immediately preceding years: Provided that where the promoters propose to subscribe to the specified securities offered to the extent greater than higher of the two options available in clause (a) of sub-regulation (1) of regulation 113, the subscription in excess of such percentage shall be made at a price determined in term .....

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