9911796707
TMI BlogAmendments to the SEBI (Disclosure and Investor Protection) {DIP} Guidelines, 2000X X X X Extracts X X X X X X X X Extracts X X X X ..... g to the book building process. 2.0 The amendments are detailed in the Annexure and are categorized and summarized as follows: 2.1 Enhancing the allocation category for retail individual investors At present, in a book built issue allocation to Retail Individual Investors (RIIs), Non Institutional Investors (NIIs) and Qualified Institutional Buyers (QIBs) is in the ratio of 25: 25: 50 respectively. SEBI has decided to increase the allocation to RIIs from the existing 25% to 35% and correspondingly reduce the allocation to NIIs from the existing 25% to 15%. Further, in case the book built issues are made pursuant to the requirement of mandatory allocation of 60% to QIBs in terms of Rule 19(2)(b) of SCRR , the respective figures shall be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... isplay on the websites of the concerned stock exchanges and (ii) to ensure availability of data for a further period of 3 days after the closure of the bids/issue. 3.0 Applicability 3.1 All the amendments made vide this circular, except the one at sr.no 2.5 above, shall be applicable to those public issues whose draft offer documents are filed with SEBI on or after April 4, 2005. 3.2 The concerned stock exchanges are requested to put adequate systems in place to ensure compliance with the amendments at sr.no.2.5 above. The same may be done at the earliest and in any case not later than 90 days from the date of issuance of this circular. 4.0 This circular along with the annexure is available in SEBI website at www.sebi.gov.in. Full text ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rices; (c) names and editions of the newspapers where the announcement of the floor price or price band would be made; (d) names of websites (with address), journals or other media in which the said announcement will be made." 3. In clause 11.3.2, after sub-clause (iii), the following sub-clauses shall be inserted, namely: "(iv) the broad parameters on which allocation is proposed to be made to Qualified Institutional Buyers (v) the proposed manner of allocation among respective categories of investors, in the event of under subscription." 4. In clause 11.3.4.1(i) - a. for the words and figure "5 days", the following words shall be substituted, namely, "three working days"; b. for the words and figures "10 days", the following words ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ded that, the unsubscribed portion in the "Qualified Institutional Buyer" category, shall not be available for subscription to other categories, in case the issuer company has made an issue of securities under clause 2.2.2 or clause 2.3.2 of these guidelines.)"
9. Sub clause (v)(a) of clause 11.3.5 shall be substituted with the following, namely :
"The allocation to QIBs shall be made as per disclosures made in terms of clause 11.3.2(iv)"
SCHEDULES
10. In Schedule XXIX under serial no. (o), the item numbered as (s) shall be renumbered as (iv)
11. After Schedule XXIX, the following new schedule shall be inserted
"SCHEDULE XXX
[Clause 11.3.4.1(xii)]
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