Legal UpdatesSecurity Laws

SEBI extends deadline for the validity of observation and revision of issue size

SEBI Updates

SEBI extends the expiration of validity of SEBI observations upto 31st March 2020 subject to undertaking  from the lead  manager  of  the  issue confirming compliance  with Schedule XVI of the ICDR Regulations while submitting the updated offer document to the Board. The  validity  of  the  SEBI observations had to expire between  October  1,  2020  and March 31, 2021. 

In addition, the deadline to increase or decrease the fresh issue size by up to 50 % of the estimated issue size without requiring to file a fresh draft offer document under Schedule  XVI  (1) (f)(i)  of  the  ICDR  Regulations,  2018 has been extended to March 31, 2021. 

The respective circular will come into effect from October 01, 2020. 


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