9911796707
TMI BlogAmendments to SEBI (Disclosure and Investor Protection) Guidelines, 2000X X X X Extracts X X X X X X X X Extracts X X X X ..... (DIP) Guidelines").The full text of amendments is given in Annexure I. 2. The salient features of the amendments are given in brief as under: 2.1 Compulsory listing of IPO on at least one stock exchange with nationwide trading terminals (a) At present, in terms of the Companies Act, 1956 and the SEBI (DIP) Guidelines, there is no regulatory stipulation on an unlisted company making an IPO to compulsorily list the securities being issued through the IPO on stock exchanges having nationwide trading terminals. (b) Listing of securities on stock exchanges having nationwide trading terminals provides an active trading platform to investors, from all across the country, in securities of the company. (c) In view of the above, it has been d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3. Applicability. 3.1 The amendment made by this circular shall be applicable as under: a. Amendments to clause 2.1.4 and 4.14.2 of the SEBI (DIP) Guidelines shall be applicable where draft offer documents for public issues are filed with SEBI on or after the date of this circular. b. Amendment to clause 11.3.5 of the SEBI (DIP) Guidelines shall be applicable to: (i) all cases where draft red herring prospectuses are filed with SEBI on or after the date of this circular; (ii) all cases where draft red herring prospectuses have been filed with SEBI but SEBI has not yet issued its observations; and (iii) all cases where SEBI has issued observations but where the red herring prospectus is yet to be filed with the Registrar of Comp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... b clause (iib) shall be inserted :- (iib) Out of the portion available for allocation to Qualified Institutional Buyers under sub-clause (i) or (ii) or any proviso thereof, as the case may be, upto 30% may be allocated to Anchor Investors subject to the following: a) Anchor Investors shall necessarily be Qualified Institutional Buyers as defined in these guidelines. b) The minimum application size by an Anchor Investor shall be ₹ 10 crores. c) One-third of the Anchor Investor portion shall be reserved for domestic mutual funds. d) The bidding for Anchor Investors shall open one day before the issue opens and shall be completed on the same day. e) Allocation to Anchor Investors shall be on a discretionary basis subject to m ..... X X X X Extracts X X X X X X X X Extracts X X X X
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