SEBI mandates filing of issue summary documents for IPO from March 1
Sebi clarified in its filing that ISD shall be filed in two stages: in the first stage, ISD will be filed containing pre-issue / offer fields and in the second stage, ISD will be filed containing post-issue / offer fields after allotment/offer is completed / as applicable for respective ISD.
Securities and Exchange Board of India (Sebi) in its recent circular issued on February 15 mandated the filing of an issue summary document (ISD) for IPO and other issues so that investors and stakeholders will get complete company information in one place. Filling of ISD for IPO will be implemented from March 1 and for other issues from April-May.
The market regulator clarified in its filing that ISD shall be filed in two stages: in the first stage, ISD will be filed containing pre-issue / offer fields and in the second stage, ISD will be filed containing post-issue / offer fields after allotment/offer is completed / as applicable for respective ISD.
The implementation process has also been divided into stages. In the first phase, the roll-out shall be of ISD for public issues of specified securities, for offer documents filed on or after March 01, 2023. In the second phase, ISD for further issues shall be implemented from April 03, 2023. In the third and final phase, ISD for open offer, buy-back, and voluntary delisting shall be implemented from May 02, 2023.
Lead Managers are required to disseminate all advertisements in connection with a public issue under SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (“SEBI ICDR Regulations”) in pdf format on the website of the stock exchange(s) from March 01, 2023.
The recognized Stock Exchanges and the Depositories need to communicate to SEBI regarding the status of implementation of the provisions of this circular within 7 days of implementation and in their Monthly Developments Reports, clarified the regulator in its circular.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Power of Compounding: How many years will it take to reach Rs 3 crore corpus if your monthly SIP is Rs 4,000, Rs 5,000, or Rs 6,000
Power of Compounding: Salary Rs 25,000 per month; is it possible to create over Rs 2.60 crore corpus; understand it through calculations
Reduce Home Loan EMI vs Reduce Tenure: Rs 75 lakh, 25-year loan; which option can save Rs 25 lakh and 64 months and how? Know here
Top 7 Large and Mid Cap Mutual Funds with Best SIP Returns in 5 Years: No. 1 fund has turned Rs 15,000 monthly SIP investment into Rs 20,54,384; know about others
New Year Pick by Anil Singhvi: This smallcap stock can offer up to 75% return in long term - Check targets
09:18 PM IST