AMENDMENTS TO SEBI (DISCLOSURE AND INVESTOR PROTECTION) GUIDELINES, 2000
- Compulsory listing of IPO on at least one stock exchange with nationwide trading terminals An unlisted company making an IPO shall list the securities being issued through the IPO on at least one stock exchange having nationwide trading terminals.
- Equity shares considered eligible for offer for sale
- At present, in terms of the SEBI (DIP) Guidelines, a shareholder can make an offer for sale of the equity shares if such equity shares have been held for a period of at least one year as on the date of filing the draft offer document with SEBI.
- It has been decided to amend clause 4.14.2 of the SEBI (DIP) Guidelines to provide that in case equity shares which are received on conversion of fully paid compulsorily convertible securities, including depository receipts, are being offered for sale, the holding period of such convertible securities as well as that of resultant equity shares together shall be considered for the purpose of calculation of the eligibility period.
- Introduction of concept of Anchor Investor in public issues through book building route
- SEBI (DIP) Guidelines to introduce a concept of Anchor Investor in public issues through book building. Details of this concept are in the amendments to the SEBI (DIP) Guidelines.
- Allocation to Anchor Investor in the public issue shall be subject to specified conditions.
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