Feb 10, 2012

Institutional Placement Programmes

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Institutional Placement Programmes
 
In line with the decisions taken by SEBI, in their Board Meeting held on 3rd January 2012, SEBI, has inserted a new Chapter, Chapter VIIIA in the ICDR Regulations to provide for the mechanism for compliance with minimum Public Shareholding norms, by way of Institutional Placements (IPP). “Institutional Placement Programme” means a further public offer of eligible securities by an eligible seller, in which the offer, allocation and allotment of such securities is made only to qualified institutional buyers in terms of this Chapter.
 
Simultaneous amendments have also been made in the Listing Agreement.
 
A detailed synopsis of the key features of the newly inserted Chapter and other amendments made is attached herewith.
 
Also attached are the respective SEBI Circulars.   

 

 

 


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