As part of Securities and Exchange Board of India’s (SEBI) endeavour to review the listing conditions, certain amendments are hereby carried out to the Equity Listing Agreement. The amendments are as under:-
a. Amendment to Clause 40A
In addition to the existing methods which listed company can adopt to achieve minimum public shareholding, the listed company may also achieve the minimum level of public shareholding through Institutional Placement Programme (IPP) in terms of Chapter VIII-A of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended.
Further, sale of shares by promoters through stock exchanges shall be now carried out in terms of SEBI circular CIR/MRD/DP/05/2012 dated February 1, 2012.
b. Amendment to Clause 43 & 43A
In order to enhance disclosure requirements, listed entities have been mandated to disclose utilization of funds raised upon conversion/ exercise of warrants issued along with public or rights issue of specified securities.
This circular shall be applicable with immediate effect.
No comments:
Post a Comment