TMI BlogSecurities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Fourth Amendment) Regulations, 2019X X X X Extracts X X X X X X X X Extracts X X X X ..... d of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 , namely:- 1. These regulations may be called the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Fourth Amendment) Regulations, 2019. 2. They shall come into force on the date of their publication in the Official Gazette. 3. In the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, - I. In regulation 2 , in sub-regulation (1): (a) In clause (oo), in sub-clause (iii), the words and symbols foreign portfolio investor other than Category III foreign portfolio investor shall be substituted with the words foreign portfolio inves ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng conditions: (a) It has listed its specified securities for a minimum period of one year on the Innovators Growth Platform of a recognised stock exchange; (b) It has minimum of two hundred shareholders, at the time of making the application for trading under the regular category; (c) The company, any of its promoters, promoter group or directors are not debarred from accessing the capital market by the Board; (d) None of the promoters or directors of the company is a promoter or director of any other company which is debarred from accessing the capital market by the Board; (e) The company or any of its promoters or directors is not a wilful defaulter; and (f) None of the promoters or d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... der sub-regulation (2) of regulation 292, shall, at the time of applying to trade under the regular category, have seventy five per cent. of its capital, as on date of application for migration, held by Qualified Institutional Buyers. Minimum promoters contribution (4) The promoters of the company shall hold atleast twenty per cent of the total capital: Provided that in case the total capital held by the promoters is less than twenty per cent, alternative investment funds or foreign venture capital investors or scheduled commercial banks or public financial institutions or insurance companies registered with Insurance Regulatory and Development Authority of India may contribute to meet the shortfall in minimum ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... more. IV. In Schedule XIII, in Part A, in clause 10, in sub-clause k, the words and symbols FPIs other than Category III shall be replaced with the words a foreign portfolio investor other than individuals, corporate bodies and family offices. AJAY TYAGI, Chairman [ADVT.-III/4/Exty./221/19] Footnotes: 1. The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 was published in the Gazette of India on September 11, 2018, vide Notification No. SEBI/LAD-NRO/GN/2018/31. 2. The Principal Regulation was subsequently amended on - (a) December 31, 2018 by the Securities and Exchange Board of India (Issue of Capital and Di ..... X X X X Extracts X X X X X X X X Extracts X X X X
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