VCF HOLDING FREE FROM LOCK-IN

SEBI also decided that the shareholding of Venture Capital Funds (VCFs) and Foreign Venture Capital Investors (FVCIs) held in a company prior to making an Initial Public Offering (IPO), would be exempt from lock-in requirements only if the shares are held by them for a period of at least one year at the time of filing of draft prospectus with SEBI.