SEBI Discussion Paper on Revisiting the capital raising process January, 2015

Size: px
Start display at page:

Download "SEBI Discussion Paper on Revisiting the capital raising process January, 2015"

Transcription

1 SEBI Discussion Paper on Revisiting the capital raising process January, 2015 TM

2 Discussion Paper on Revisiting the capital raising process The Securities and Exchange Board of India (SEBI) released a discussion paper on Thursday dated January 8, 2014 proposing couple of norms and one of them is to shorten the time duration between the closure of a fresh public issue (IPO) and the day of listing Key Objectives :- To explore way and means to curtail the timeline for listing from the closure of issue To reduce the cost of public issuances To broad base the retail investors reach across the country for submitting applications. Current time duration 12 days Proposed 6 days

3 Proposed Non ASBA Process Investors will submit an application to Stock broker, DP, RTA & SSCB.. On receipt of application Stock broker / DP/ RTA / SSCB will bid and clearing corporation will block amount from the stock brokers account. Stock brokers will be advised to use NACH mechanism thereby receive upfront payment confirmation Details of payment confirmation for the bids will be made by banks, clearing corporations and depositories to the RTA Finalization of basis of allotment by RTA and on approval of same by SE, RTA to give instructions to clearing corporation and banks to credit funds in the public issue accoun.t Excess funds would be refunded to the investors and depositories to give instructions to credit securities to investors demat account SE will issue listing & trading approval. Abbreviations Stock broker = SEBI registered stock broker DP = Depository participant SCSB self Certified Syndicate bank RTA Registrar transfer Agent SE Stock Exchange

4 Proposed Timeline Events ASBA Bids Non ASBA Bids Other Activities T T+1 T+2 Last day of Bidding Final Certificate from SCSBs Syndicate, Non Syndicate Members, Depository Participant and RTA to forward a schedule and application forms to respective SCSBs for blocking of funds. Final Collection certificate for ASBA application made through Syndicate, Non-Syndicate Member, Depository Participant and RTA Availability funds with Stock Broker from Syndicate or Non Syndicate member Clearing Corporation for validation containing the application number and amount, who may use this file for reconciliation. Final Certificate from Clearing Corporation about the amount collected. T+3 NA NA Other SE to share the bid file with Designated Stock Exchange (DSE) DSE to provide End Of Day File (Full Book) to RTA Validation of DP ID/ CL ID will be done by the Exchange with the depositories data by the EoD. Submission of documents by issuer company and merchant banker to stock exchanges (documents presently filed on T+2) Registrar to give instructions to Depositories to carry out lock-in for pre issue capital. Registrar to prepare list of rejected bids based on mis-match between electronic bid details and Depositories data base. Registrar to undertake Technical Rejection test based on electronic bid details and prepare list of technical rejection cases. Registrar to undertake and complete reconciliation of final certificate received from SCSBs and CC) with electronic bid details. Minutes and Technical Rejection approval from BRLM and issuer Submissions of electronic files and basis documents to exchanges and approval of same by exchanges

5 Proposed Timeline Events ASBA Bids Non ASBA Bids Other Activities T+5 T Applicant to receive credit of allocated shares and / or unblock the unutilized money Applicant to receive credit of allocated shares and / or refund of money (same point as above) Transfer of funds to Public Issue/ Refund Account (Clearing Corporation) and unblocking of ASBA Applicants Accounts by RTA on approval of allotment by the company Intimation of basis of allotment by RTA to other SE Application to SE to obtain listing and trading permission by company Advertisement in Newspaper about Allotment Listing reports to issuer / CA/CS certificate for allotment Upload of allotment data to CDSL/NSDL Registrar to Complete Dispatch of allotment instructions Registrar to receive confirmation of credit from NSDL & CDSL and Issue Reconciliation certificate of drop cases, if any Issuer and Registrar to file confirmation of demat credit and refund dispatch with Stock Exchange(s). Confirmation of lock in shares by depository to registrar Company to deposit commission for Non Syndicate members) based on RTA report. SE to give Listing and Trading Approval SE(s) to transfer the commission to Non Syndicate Members through Clearing Corporation based on RTA report. T+ 6 Commencement of Trading from 6 th working day Note T = Closure of Issue SCSB self Certified Syndicate bank RTA Registrar transfer Agent SE Stock Exchange

6 Comments Should the requirement of having an abridged prospectus along with application form be made nonmandatory? Should ASBA be mandated for all investors?? Should NACH mechanism by NPCI be mandated for collecting payment from investors? For Public comments If ASBA is continued as a voluntary mechanism for retail investors, should it be made voluntary for non-retail investors as well? Any suggestions/modifications on the mechanism proposed above in order to achieve reduction in time and cost of capital raising?

7 Thank You TM Corporate Office Mumbai 108, Madhava Premises, Bandra Kurla Complex, Bandra (East), Mumbai Landline: (022) /91, Fax: (022) Website: Capital Advisors (P) Ltd Progress with Values Associate Offices at Bhopal - Madhya Pradesh Borivali - Mumbai Kolkata - West Bengal Pune - Maharashtra Rajkot - Gujarat Surat - Gujarat Vapi - Gujarat Online Initiatives : Disclaimer All data and information is provided for informational purposes only and is not intended for any factual use. It should not be considered as binding / statutory provisions. Neither Pantomath Capital Advisors nor any of its group company, directors, or employs shall be liable for any of the data or content provided for any actions taken in reliance thereon.

Insider Trading And Delisting Norms Revisited Nov-2014

Insider Trading And Delisting Norms Revisited Nov-2014 Insider Trading And Delisting Norms Revisited Nov-2014 TM Insider Trading Norms Revisited & Delisting Norms Eased SEBI has tightened rules to keep check on insider trading and has eased delisting process.

More information

CIRCULAR. CIR/DDHS/P/ 121/2018 Date: August 16, 2018

CIRCULAR. CIR/DDHS/P/ 121/2018 Date: August 16, 2018 CIRCULAR CIR/DDHS/P/ 121/2018 Date: August 16, 2018 To Recognized Stock Exchanges (other than commodity stock exchanges) Self-Certified Syndicate Banks, Depositories Merchant Bankers, Stock Brokers Registrars

More information

For the Use of SIB Internet Banking Customers

For the Use of SIB Internet Banking Customers THE SOUTH INDIAN BANK LTD. ASBA-User Guide Applications Supported By Blocked Amount (ASBA) For the Use of SIB Internet Banking Customers Document Version Number 1.0 Document Date 18-11-2010 Application

More information

JAKHARIA FABRIC LIMITED CIN: U17200MH2007PLC171939

JAKHARIA FABRIC LIMITED CIN: U17200MH2007PLC171939 JAKHARIA FABRIC LIMITED CIN: U17200MH2007PLC171939 Our Company was incorporated as Jakharia Fabric Private Limited on June 22, 2007, under the Companies Act, 1956 with the Registrar of Companies, Mumbai

More information

MARINE ELECTRICALS (INDIA) LIMITED

MARINE ELECTRICALS (INDIA) LIMITED MARINE ELECTRICALS (INDIA) LIMITED Our Company was incorporated pursuant to a certificate of incorporation dated December 04, 2007 issued by the Registrar of Companies, Maharashtra Mumbai at Maharashtra

More information

VALIANT ORGANICS LIMITED CIN: U24230MH2005PLC151348

VALIANT ORGANICS LIMITED CIN: U24230MH2005PLC151348 VALIANT ORGANICS LIMITED CIN: U24230MH2005PLC151348 Our Company was incorporated as Valiant Organics Private Limited on February 16, 2005 under the Companies Act, 1956 bearing Registration No. 151348 and

More information

Central Depository Services (India) Limited

Central Depository Services (India) Limited Central Depository Services (India) Limited Convenient Dependable Secure COMMUNIQUÉ TO DEPOSITORY PARTICIPANTS CDSL/OPS/DP/POLCY/5673 January 11, 2016 SEBI CIRCULAR - REVISED CONTENTS OF APPLICATION-CUM-BIDDING

More information

KARDA CONSTRUCTIONS LIMITED

KARDA CONSTRUCTIONS LIMITED KARDA CONSTRUCTIONS LIMITED Our Company was incorporated as Karda Constructions Private Limited on September 17, 2007 as a Private Limited Company under the Companies Act, 1956 with the Registrar of Companies,

More information

General Information Document for Investing in Public Issues

General Information Document for Investing in Public Issues Last updated on, 2014 AMSONS APPARELS LIMITED (CIN: U74899DL2003PLC122266) Our Company was originally incorporated at New Delhi as Amsons Apparels Private Limited on 16 th September, 2003 under the provisions

More information

APOLLO MICRO SYSTEMS LIMITED

APOLLO MICRO SYSTEMS LIMITED APOLLO MICRO SYSTEMS LIMITED Our Company was incorporated as Apollo Micro Systems Private Limited on March 3, 1997 in Hyderabad as a private limited company, under the Companies Act, 1956 and was granted

More information

MANORAMA INDUSTRIES LIMITED

MANORAMA INDUSTRIES LIMITED PROSPECTUS Dated: September 27, 2018 Read with Section 32 of the Companies Act,2013 100% Book Built Issue MANORAMA INDUSTRIES LIMITED Our Company was originally incorporated as Manorama Industries Private

More information

ZODIAC ENERGY LIMITED

ZODIAC ENERGY LIMITED ZODIAC ENERGY LIMITED Our Company was originally incorporated as Zodiac Genset Private Limited at Ahmedabad on May 22, 1992 under the provisions of the Companies Act, 1956 vide Certificate of Incorporation

More information

JM Financial Credit Solutions Limite d

JM Financial Credit Solutions Limite d JM FINANCIAL CREDIT SOLUTIONS LIMITED INVESTMENT RATIONALE The issue offers yields ranging from 9.24% to 9.74% depending up on the Category of Investor and the option applied for. The NCDs have been rated

More information

TANVI FOODS (INDIA) LIMITED U15433TG2007PLC053406

TANVI FOODS (INDIA) LIMITED U15433TG2007PLC053406 TANVI FOODS (INDIA) LIMITED U15433TG2007PLC053406 Our Company was incorporated as Tanvi Foods Private Limited on March 30, 2007 under the Companies Act, 1956 with the Registrar of Companies, Hyderabad

More information

OFFER PROCEDURE PART B. General Information Document for Investing in Public Issues

OFFER PROCEDURE PART B. General Information Document for Investing in Public Issues OFFER PROCEDURE PART B General Information Document for Investing in Public Issues This General Information Document highlights the key rules, processes and procedures applicable to public issues in accordance

More information

Muthoot Finance Limited

Muthoot Finance Limited Muthoot Finance Limited Our Company was originally incorporated as a private limited company on March 14,1997 under the provisions of the Companies Act, 1956, with the name "The Muthoot Finance Private

More information

INITIAL PUBLIC OFFERINGS (IPOs) REGULATIONS & PROCESS

INITIAL PUBLIC OFFERINGS (IPOs) REGULATIONS & PROCESS INITIAL PUBLIC OFFERINGS (IPOs) REGULATIONS & PROCESS Options for Raising Funds Fund Raising Options Debt Equity Hybrid In India From Banks & FIs Public issue of Bonds/Debentures IPO FPO Rights Issue Various

More information

INITIAL PUBLIC OFFERING

INITIAL PUBLIC OFFERING INITIAL PUBLIC OFFERING UNDER SEBI (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2009 Table of Contents A. Eligibility Requirements for IPO B. Process of IPO C. Key Requirements of SEBI ICDR

More information

Last Updated on November 14, 2018 vide SEBI Circular CIR/CFD/DIL/12/2013

Last Updated on November 14, 2018 vide SEBI Circular CIR/CFD/DIL/12/2013 Last Updated on November 14, 2018 vide SEBI Circular CIR/CFD/DIL/12/2013 SHUBHLAXMI JEWEL ART LIMITED Our Company was originally formed and registered as a partnership firm on July 30, 2013 at Bhavnagar,

More information

RISK IN RELATION TO THE FIRST ISSUE

RISK IN RELATION TO THE FIRST ISSUE DRAFT RED HERRING PROSPECTUS Dated: August 21, 2014 Read section 32 of the Companies Act, 2013 (The Red Herring Prospectus will be updated upon filing with the RoC) Book Building Issue MOMAI APPARELS LIMITED

More information

GENERAL INFORMATION DOCUMENT FOR INVESTING IN PUBLIC ISSUES

GENERAL INFORMATION DOCUMENT FOR INVESTING IN PUBLIC ISSUES AXITA COTTON LIMITED CIN: U17200GJ2013PLC076059 Registered office: Servey No. 324, 357, 358, Kadi Thol Road, Borisana, Kadi, Mahesana-382715, Gujarat Website: www.axitacotton.com; E-Mail: cs@axitacotton.com

More information

DIGEST OF REGULATORY UPDATES. This is our series of knowledge sharing initiatives towards sharing regulatory updates on Corporate Laws.

DIGEST OF REGULATORY UPDATES. This is our series of knowledge sharing initiatives towards sharing regulatory updates on Corporate Laws. Change is the law of life. And those who look only to the past or present are certain to miss the future. Keeping up to date with legislation can be time consuming, and legislation itself is complex and

More information

GENERAL INFORMATION DOCUMENT FOR INVESTING IN PUBLIC ISSUES

GENERAL INFORMATION DOCUMENT FOR INVESTING IN PUBLIC ISSUES AKI INDIA LIMITED Corporate Identity Number: U19201UP1994PLC016467 Our Company was originally incorporated as AKI Leather Industries Private Limited on May 16, 1994 as a private limited company under the

More information

REGULATORY FRAMEWORK GOVERNING INITIAL PUBLIC OFFERINGS IN INDIA

REGULATORY FRAMEWORK GOVERNING INITIAL PUBLIC OFFERINGS IN INDIA CHAPTER 4 REGULATORY FRAMEWORK GOVERNING INITIAL PUBLIC OFFERINGS IN INDIA This chapter presents the regulatory framework governing the issuance of IPOs through public offer, book building and online route.

More information

Last Updated on June 04, 2018 vide SEBI Circular CIR/CFD/DIL/12/2013

Last Updated on June 04, 2018 vide SEBI Circular CIR/CFD/DIL/12/2013 Last Updated on June 04, 2018 vide SEBI Circular CIR/CFD/DIL/12/2013 PRITI INTERNATIONAL LIMITED Our Company was originally incorporated as Priti International Limited at Jodhpur, Rajasthan as a Public

More information

IFLR India Awards "Team of the Year" in the Indian Investment Banks category. Primary and Secondary Issuance Process

IFLR India Awards Team of the Year in the Indian Investment Banks category. Primary and Secondary Issuance Process IFLR India Awards 2011 - "Team of the Year" in the Indian Investment Banks category Primary and Secondary Issuance Process May 2012 Table of Contents Section 1 Section 2 Capital Markets Overview Trends

More information

CIRCULAR. SEBI/HO/DDHS/CIR/P/2018/122 August 16, 2018

CIRCULAR. SEBI/HO/DDHS/CIR/P/2018/122 August 16, 2018 CIRCULAR SEBI/HO/DDHS/CIR/P/2018/122 August 16, 2018 To All Recognized Stock Exchanges (except Commodity Exchanges) All Recognized Depositories Issuers of debt securities/ncrps Merchant Bankers and Brokers

More information

DIGEST OF REGULATORY UPDATES. This is our series of knowledge sharing initiatives towards sharing regulatory updates on Corporate Laws.

DIGEST OF REGULATORY UPDATES. This is our series of knowledge sharing initiatives towards sharing regulatory updates on Corporate Laws. Friday, July 13, 2018 Change is the law of life. And those who look only to the past or present are certain to miss the future. Keeping up to date with legislation can be time consuming, and legislation

More information

HOUSING AND URBAN DEVELOPMENT CORPORATION LIMITED Public Issue of Tax Free Bonds - FAQs

HOUSING AND URBAN DEVELOPMENT CORPORATION LIMITED Public Issue of Tax Free Bonds - FAQs HOUSING AND URBAN DEVELOPMENT CORPORATION LIMITED Public Issue of Tax Free Bonds - FAQs 1) Brief about HUDCO? HUDCO is a techno-financial institution engaged in the financing and promotion of housing and

More information

(10 NCDs) In multiples of ` 1, (1 NCD) (10 NCDs) (10 NCDs) (1 NCD) (1 NCD)

(10 NCDs) In multiples of ` 1, (1 NCD) (10 NCDs) (10 NCDs) (1 NCD) (1 NCD) APPLICANT S UNDERTAKING I/We hereby agree and con rm that: 1. I/We have read, understood and agreed to the contents and terms and conditions of Shelf Prospectus and Tranche I Prospectus dated March 23,

More information

Company Highlights. Strengths. Strategies. Financials Performance

Company Highlights. Strengths. Strategies. Financials Performance PUBLIC ISSUE OF TAX FREE, SECURED, REDEEMABLE, NON CONVERTIBLE BONDS of face value of ` 1,000 each, having tax benefits under section 10(15) (iv) (h) Income Tax Act, 1961, as amended for an amount aggregating

More information

Glossary: S.No. Particulars. 1 Applicable ICDR Regulations. 2 SEBI Chapter XB regulations. 3 Eligibility Norms (BSE & NSE) 4 Key features of Listing

Glossary: S.No. Particulars. 1 Applicable ICDR Regulations. 2 SEBI Chapter XB regulations. 3 Eligibility Norms (BSE & NSE) 4 Key features of Listing Glossary: S.No. Particulars 1 Applicable ICDR Regulations 2 SEBI Chapter XB regulations 3 Eligibility Norms (BSE & NSE) 4 Key features of Listing 5 Flow Chart 6 Roadmap at Macro Level 7 Practical difficulties

More information

Standard Chartered Indian Depository Receipts Frequently Asked Questions: Table of Contents

Standard Chartered Indian Depository Receipts Frequently Asked Questions: Table of Contents Standard Chartered Indian Depository Receipts Frequently Asked Questions: Table of Contents The IDR Facility... 1 Rights of IDR Holders... 2 Ownership and Trading of IDRs... 3 IDR Fees... 4 Other Questions

More information

Aakash Educational Services Limited

Aakash Educational Services Limited DRAFT RED HERRING PROSPECTUS Dated: July 19, 2018 Please read Section 32 of the Companies Act, 2013 (This Draft Red Herring Prospectus will be updated upon filing with the RoC) 100% Book Built Offer Aakash

More information

GENERAL INFORMATION DOCUMENT FOR INVESTING IN PUBLIC ISSUES / OFFERS

GENERAL INFORMATION DOCUMENT FOR INVESTING IN PUBLIC ISSUES / OFFERS ARIHANT INSTITUTE LIMITED CIN: U80301GJ2007PLC050413 Our Company was originally incorporated on March 30, 2007 as Arihant Institute Private Limited vide Registration no. 050413 (CIN: U80301GJ2007PTC050413)

More information

TATA STEEL LIMITED BASIS OF ALLOTMENT

TATA STEEL LIMITED BASIS OF ALLOTMENT TATA STEEL LIMITED (Originally incorporated on August 26,1907 under the Indian Companies Act, 1882 as' The Tata Iran and Steel Company Limited',; the name of the Company was changed into 'Tata Steel Limited'

More information

SEBI (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2009 [Previously SEBI (Disclosure and Investors Protection) Guidelines 2000]

SEBI (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2009 [Previously SEBI (Disclosure and Investors Protection) Guidelines 2000] SEBI (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2009 [Previously SEBI (Disclosure and Investors Protection) Guidelines 2000] Payel Jain Academy of Financial Services Pvt. Ltd PUBLIC OFFER-

More information

RED HERRING PROSPECTUS Dated: July 14, 2017 Please see section 26 and 32 of the Companies Act, 2013 Book Building Issue

RED HERRING PROSPECTUS Dated: July 14, 2017 Please see section 26 and 32 of the Companies Act, 2013 Book Building Issue RED HERRING PROSPECTUS Dated: July 14, 2017 Please see section 26 and 32 of the Companies Act, 2013 Book Building Issue SUREVIN BPO SERVICES LIMITED Our Company was incorporated on June 18, 2007 as Surevin

More information

SHAREX DYNAMIC (INDIA)PRIVATE LIMITED 14/15, Khatau Building, 40, Bank Street, Fort,

SHAREX DYNAMIC (INDIA)PRIVATE LIMITED 14/15, Khatau Building, 40, Bank Street, Fort, PROSPECTUS Dated: August 02, 2017 Please see section 26 and 32 of the Companies Act, 2013 Book Built Issue SUREVIN BPO SERVICES LIMITED Our Company was incorporated on June 18, 2007 as Surevin BPO Services

More information

Shriram Transport Finance Company Limited

Shriram Transport Finance Company Limited ISSUE SALIENT FEATURES Yields range from 9.65% to 11.15% depending on the series applied for (Series I, II, III, IV & V) and the category of investor Credit Rating of CRISIL AA/Stable by CRISIL and CARE

More information

DRAFT RED HERRING PROSPECTUS Dated: March 12, 2018 Read with Section 32 of the Companies Act, % Book Built Issue

DRAFT RED HERRING PROSPECTUS Dated: March 12, 2018 Read with Section 32 of the Companies Act, % Book Built Issue DRAFT RED HERRING PROSPECTUS Dated: March 12, 2018 Read with Section 32 of the Companies Act, 2013 100% Book Built Issue ACCURACY SHIPPING LIMITED Our Company was originally incorporated as Accuracy Shipping

More information

[ ] FOR QIBs: *** [ ] *

[ ] FOR QIBs: *** [ ] * DRAFT RED HERRING PROSPECTUS Dated February 9, 2018 (This Draft Red Herring Prospectus will be updated upon filing with the RoC) (Please read Section 32 of the Companies Act, 2013) 100% Book Building Offer

More information

Bonanza Portfolio Ltd

Bonanza Portfolio Ltd Public Issue of Tax Free Secured Redeemable Non-Convertible Bonds issued by HIGHLIGHTS OF TAX BENEFITS In exercise of the powers conferred by item (h) of sub-clause (iv) of clause (15) of Section 10 of

More information

RECONCILIATION OF SHARE CAPITAL AUDIT

RECONCILIATION OF SHARE CAPITAL AUDIT Scrip code* 540148 RECONCILIATION OF SHARE CAPITAL AUDIT Name of the company* BINDAL EXPORTS LIMITED Registered office address* Registered office state* Registered office city* Registered office address

More information

SOFTTECH ENGINEERS LIMITED

SOFTTECH ENGINEERS LIMITED RED HERRING PROSPECTUS Dated: April 18, 2018 Read with section 32 of the Companies Act, 2013 The Red Herring Prospectus will be updated upon filing with the RoC) 100% Book Built Offer SOFTTECH ENGINEERS

More information

07-Jan Jan-2019

07-Jan Jan-2019 Public Issue of Secured Redeemable Non-Convertible Debentures ------------------------------------------------------------------------------------------------------ Issue Opens on 07-Jan-2019 ---------------------------------------------------

More information

Public Issue of Secured and Unsecured subordinated Non-Convertible Debentures

Public Issue of Secured and Unsecured subordinated Non-Convertible Debentures Public Issue of Secured and Unsecured subordinated Non-Convertible Debentures Issue Opens On: February 9, 2018 Issue Closes On: March 7, 2018 # Srei Infrastructure Finance Limited Registered Office: Vishwakarma,

More information

Shriram City Union Finance Limited. Issue Related FAQs

Shriram City Union Finance Limited. Issue Related FAQs Shriram City Union Finance Limited Issue Related FAQs Q1. What is the Nature & Size of the Issue? Ans: Public Issue by Shriram City Union Finance Limited, ( Company or Issuer ) of Secured Non- Convertible

More information

RECONCILIATION OF SHARE CAPITAL AUDIT

RECONCILIATION OF SHARE CAPITAL AUDIT RECONCILIATION OF SHARE CAPITAL AUDIT Scrip code* 530125 NSE Symbol MSEI Symbol ISIN INE103E01016 Name of the company* Samrat Pharmachem Limited Registered office address Registered office address* Plot

More information

NCD - PUBLIC ISSUE NOTE

NCD - PUBLIC ISSUE NOTE Public Issue of Secured Redeemable Non-Convertible Debentures by Indiabulls Housing Finance Limited Brief Introduction of the company: It is one of the largest housing finance companies ("HFCs") in India.

More information

H.P. Sanghvi & Company Company Secretaries

H.P. Sanghvi & Company Company Secretaries HP Sanghvi & Company The Board of Directors, Ajmera Realty & Infra India Limited Citi Mall, New Link Road, Andheri(w), RECONCILIATION OF SHARE CAPITAL AUDIT REPORT We have examined he Register of Members,

More information

RURAL ELECTRIFICATION CORPORATION LIMITED (A Government of India Undertaking)

RURAL ELECTRIFICATION CORPORATION LIMITED (A Government of India Undertaking) RURAL ELECTRIFICATION CORPORATION LIMITED (A Government of India Undertaking) HIGHLIGHTS OF TAX BENEFITS Interest from these Bonds shall not be included in total income of any person as per provisions

More information

SREI EQUIPMENT FINANCE LIMITED

SREI EQUIPMENT FINANCE LIMITED INVESTMENT RATIONALE SREI EQUIPMENT FINANCE LIMITED The issue offers effective yields ranging from 8.63 % to 9.77% depending up on the Category of Investor and the option applied for. Credit Rating of

More information

INDIABULLS HOUSING FINANCE LIMITED (IBHFL)

INDIABULLS HOUSING FINANCE LIMITED (IBHFL) INDIABULLS HOUSING FINANCE LIMITED (IBHFL) INVESTMENT RATIONALE The issue offers yields ranging from 8.60 % to 9.15% depending up on the Category of Investor and the option applied for. Opportunity to

More information

RED HERRING PROSPECTUS Dated: January 23, 2018 Please read Section 32 of the Companies Act, 2013 Book Built Offer

RED HERRING PROSPECTUS Dated: January 23, 2018 Please read Section 32 of the Companies Act, 2013 Book Built Offer RED HERRING PROSPECTUS Dated: January 23, 2018 Please read Section 32 of the Companies Act, 2013 Book Built Offer SINTERCOM INDIA LIMITED Our Company was originally incorporated on February 22, 2007 as

More information

The issue offers yield ranging from % to % depending upon the series applied for and category of investor

The issue offers yield ranging from % to % depending upon the series applied for and category of investor INVESTMENT RATIONALE The issue offers yield ranging from 12.25 % to 12.6184% depending upon the series applied for and category of investor Opportunity to invest in a subsidiary of Religare Enterprises

More information

DRAFT RED HERRING PROSPECTUS

DRAFT RED HERRING PROSPECTUS DRAFT RED HERRING PROSPECTUS Dated: June 5, 2017 Read section 32 of the Companies Act, 2013 (The Draft Red Herring Prospectus will be updated upon filing with the RoC) Book Built Offer ADROIT INDUSTRIES

More information

PROMOTERS OF OUR COMPANY: MR. SARVAPRIYA BANSAL AND MR. 10/- EACH FULLY PAID FOR CASH AT A PRICE OF RS. [ ] PER EQUITY SHARE) AGGREGATING UP TO RS

PROMOTERS OF OUR COMPANY: MR. SARVAPRIYA BANSAL AND MR. 10/- EACH FULLY PAID FOR CASH AT A PRICE OF RS. [ ] PER EQUITY SHARE) AGGREGATING UP TO RS Draft Red Herring Prospectus Dated: December 13, 2017 Read with Section 32 of the Companies Act, 2013 (The Draft Red Herring Prospectus will be updated upon filing with the RoC) 100% Book Built Issue Mohini

More information

PRACTICE QUESTIONS COMPLIANCE OFFICERS (CORPORATES) MODULE. 1) As per the SEBI (ESOS and ESPS) Guidelines 1999, 'ESOS Shares' means (1 mark)

PRACTICE QUESTIONS COMPLIANCE OFFICERS (CORPORATES) MODULE. 1) As per the SEBI (ESOS and ESPS) Guidelines 1999, 'ESOS Shares' means (1 mark) PRACTICE QUESTIONS COMPLIANCE OFFICERS (CORPORATES) MODULE 1) As per the SEBI (ESOS and ESPS) Guidelines 1999, 'ESOS Shares' means. (a) shares arising out of exercise of options granted under ESOS (b)

More information

Section A (Short Answer Type Questions)

Section A (Short Answer Type Questions) B.Com. (Hons.) V Semester Paper Title: Paper Code: AS-2640 *(Prepared by Mr. Amit Manglani, Assistant Professor, Department of Commerce, GGV) Note: These model answers are a depiction of important points

More information

India Infoline Limited

India Infoline Limited Public Issue of Unsecured Subordinated Redeemable Non-Convertible Debentures of Mahindra & Mahindra Financial Services Limited Issue Period : July 10, 2017 July 28, 2017 INVESTMENT RATIONALE Mahindra &

More information

RECONCILIATION OF SHARE CAPITAL AUDIT

RECONCILIATION OF SHARE CAPITAL AUDIT RECONCILIATION OF SHARE CAPITAL AUDIT Scrip code* 539132 NSE Symbol MSEI Symbol ISIN INE761D01021 Name of the company* VEGETABLE PRODUCTS LIMITED Registered office address Registered office address* SUBOL

More information

NISM Series IX: Merchant Banking Certification Examination. Test Objectives

NISM Series IX: Merchant Banking Certification Examination. Test Objectives NISM Series IX: Merchant Banking Certification Examination Test Objectives Chapter 1: Introduction to the Capital Market 1.1 Introduction to the Indian Capital Market 1.1.1 Explain the Capital market structure

More information

BID/ ISSUE PROGRAMME. ISSUE CLOSES ON: [l]

BID/ ISSUE PROGRAMME. ISSUE CLOSES ON: [l] Draft Red Herring Prospectus Dated: September 29, 2017 Please read Section 32 of the Companies Act, 2013 (The Draft Red Herring Prospectus will be updated upon filing with the RoC) Book Built Issue AMBITION

More information

Mohini Health & Hygiene Limited

Mohini Health & Hygiene Limited Red Herring Prospectus Dated: January 25, 2018 Read with Section 32 of the Companies Act, 2013 100% Book Built Issue Mohini Health & Hygiene Limited Our Company was originally incorporated as Mohini Fibers

More information

THIS ISSUE IS BEING IN TERMS OF CHAPTER XB OF THE SEBI (ICDR) REGULATIONS, 2009 AS AMENDED FROM TIME TO TIME.

THIS ISSUE IS BEING IN TERMS OF CHAPTER XB OF THE SEBI (ICDR) REGULATIONS, 2009 AS AMENDED FROM TIME TO TIME. Prospectus Dated: October 07, 2017 Please read section 32 of the Companies Act, 2013 Book Building Issue Siddharth Education Services Limited Our Company was incorporated on December 20, 2005 as Siddharth

More information

World Class Services Limited

World Class Services Limited Draft Red Herring Prospectus Date: July 18, 2018 Read with Section 32 of the Companies Act, 2013 100% Book Built Issue (The Draft Red Herring Prospectus will be updated upon filing with the RoC) World

More information

Note: Edelweiss Broking Ltd. is a Lead Broker to the issue; accordingly, this note is prepared based on the Prospectus for informative purpose only.

Note: Edelweiss Broking Ltd. is a Lead Broker to the issue; accordingly, this note is prepared based on the Prospectus for informative purpose only. Note: Edelweiss Broking Ltd. is a Lead Broker to the issue; accordingly, this note is prepared based on the Prospectus for informative purpose only. EDELWEISS RETAIL FINANCE LIMITED Public Issue Of Secured

More information

Exemptions to Private Company - First Shower of Monsoon - Part II

Exemptions to Private Company - First Shower of Monsoon - Part II Corporate Advisory Division Exemptions to Private Company - First Shower of Monsoon - Part II Background Ministry on June 13, 2017, further to the notification dated June 5, 2015, has provided additional

More information

ASBA (Applications Supported by Blocked Amount) New Investor friendly way to apply for IPOs

ASBA (Applications Supported by Blocked Amount) New Investor friendly way to apply for IPOs ASBA (Applications Supported by Blocked Amount) New Investor friendly way to apply for IPOs Bank of Baroda is committed to continuously enhance its offerings with innovative services leveraging advanced

More information

CIRCULAR CIR/IMD/DF/55/2016

CIRCULAR CIR/IMD/DF/55/2016 CIRCULAR CIR/IMD/DF/55/2016 May 11, 2016 To All Infrastructure Investment Trusts (InvITs) All Parties to InvITs All Stock Exchanges All Merchant Bankers Dear Sir / Madam, Sub: Guidelines for public issue

More information

Alankit Assignments Limited

Alankit Assignments Limited Alankit Assignments Limited Registrars and Share Transfer Agent (RTA) 22 January 2014 Copyrights Reserved 2014 1 of 18 Roadmap Our Vision & Mission About Us Business Verticals RTA - Functions RTA - Services

More information

ECL Finance Limited. 13-Dec Jan Public Issue of Secured Redeemable Non-Convertible Debentures. Issue Opens on.

ECL Finance Limited. 13-Dec Jan Public Issue of Secured Redeemable Non-Convertible Debentures. Issue Opens on. Public Issue of Secured Redeemable Non-Convertible Debentures ECL Finance Limited -------------------------------------------------------------------------------------------------------------------- Issue

More information

BID/ ISSUE PROGRAMME. PROSPECTUS Dated: May 31, 2018 Read with section 32 of the Companies Act, 2013 Book Built Issue

BID/ ISSUE PROGRAMME. PROSPECTUS Dated: May 31, 2018 Read with section 32 of the Companies Act, 2013 Book Built Issue PROSPECTUS Dated: May 31, 2018 Read with section 32 of the Companies Act, 2013 Book Built Issue AFFORDABLE ROBOTIC & AUTOMATION LIMITED Our Company was originally incorporated as Affordable Robotic & Automation

More information

Morgan Stanley India Company Private Limited 18F, Tower 2, One Indiabulls Centre 841, Senapati Bapat Marg. Mumbai , Maharashtra, India

Morgan Stanley India Company Private Limited 18F, Tower 2, One Indiabulls Centre 841, Senapati Bapat Marg. Mumbai , Maharashtra, India RED HERRING PROSPECTUS Dated April 25, 2018 (Please read Section 32 of the Companies Act, 2013) 100% Book Building Offer INDOSTAR CAPITAL FINANCE LIMITED Our Company was incorporated as R V Vyapaar Private

More information

15-Oct Oct-2018

15-Oct Oct-2018 Public Issue of Secured Redeemable Non-Convertible Debentures Shriram Transport Finance Company Limited ------------------------------------------------------------------------------------------------------

More information

INFINITE COMPUTER SOLUTIONS (INDIA) LTD.

INFINITE COMPUTER SOLUTIONS (INDIA) LTD. INFINITE COMPUTER SOLUTIONS (INDIA) LTD. (Incorporated as Infinite Computer Solutions (India) Private Limited on September 06,1999 under the Companies Act, 1956 at Mumbai. Subsequently the company was

More information

DRAFT RED HERRING PROSPECTUS

DRAFT RED HERRING PROSPECTUS DRAFT RED HERRING PROSPECTUS Dated: February 06, 2018 Read with section 32 of the Companies Act, 2013 (The Draft Red Herring Prospectus will be updated upon filing with the RoC) 100% Book Built Issue MACPOWER

More information

BOOK RUNNING LEAD MANAGERS REGISTRAR TO THE OFFER OFFER OPENS ON: [ ] (1)

BOOK RUNNING LEAD MANAGERS REGISTRAR TO THE OFFER OFFER OPENS ON: [ ] (1) DRAFT RED HERRING PROSPECTUS February 24, 2018 Please read Section 32 of the Companies Act, 2013 (This Draft Red Herring Prospectus will be updated upon filing with the RoC) Book Built Offer SANDHYA MARINES

More information

S.P. APPARELS LIMITED

S.P. APPARELS LIMITED DRAFT RED HERRING PROSPECTUS Dated December 28, 2015 Please read Section 32 of the Companies Act, 2013 (This Draft Red Herring Prospectus will be updated upon filing with the RoC) Book Built Offer S.P.

More information

FAQ OF SREI INFRASTRUCTURE FINANCE LIMITED -NCD Issue

FAQ OF SREI INFRASTRUCTURE FINANCE LIMITED -NCD Issue FAQ OF SREI INFRASTRUCTURE FINANCE LIMITED -NCD Issue Srei Infrastructure Finance Limited is, subject to market conditions and other considerations, proposing a public issue of up to `2000 million ( Base

More information

GOLDSTAR POWER LIMITED

GOLDSTAR POWER LIMITED Prospectus Dated: September 19, 2017 Please read Section 26 of the Companies Act, 2013 100% Fixed Price Issue GOLDSTAR POWER LIMITED Our Company was originally incorporated as Goldstar Battery Private

More information

Central Depository Services (India) Limited

Central Depository Services (India) Limited Central Depository Services (India) Limited Convenient Dependable Secure COMMUNIQUÉ TO DEPOSITORY PARTICIPANTS CDSL/OPS/DP/2122 September 27, 2010 ECS MANDATE FOR BENEFICIAL OWNERS (BOs) DPs are advised

More information

BID/ISSUE PROGRAMME. Draft Red Herring Prospectus Dated: May 07, 2018 Read with Section 26 and 32 of the Companies Act, % Book Built Issue

BID/ISSUE PROGRAMME. Draft Red Herring Prospectus Dated: May 07, 2018 Read with Section 26 and 32 of the Companies Act, % Book Built Issue Draft Red Herring Prospectus Dated: May 07, 2018 Read with Section 26 and 32 of the Companies Act, 2013 100% Book Built Issue USHANTI COLOUR CHEM LIMITED Our Company was incorporated under the provisions

More information

RURAL ELECTRIFICATION CORPORATION LIMITED (A Government of India Undertaking) HIGHLIGHTS OF TAX BENEFITS

RURAL ELECTRIFICATION CORPORATION LIMITED (A Government of India Undertaking) HIGHLIGHTS OF TAX BENEFITS RURAL ELECTRIFICATION CORPORATION LIMITED (A Government of India Undertaking) HIGHLIGHTS OF TAX BENEFITS Interest from these Bonds shall not be included in total income of any person as per provisions

More information

POWER GRID CORPORATION OF INDIA LIMITED BASIS OF ALLOTMENT

POWER GRID CORPORATION OF INDIA LIMITED BASIS OF ALLOTMENT POWER GRID CORPORATION OF INDIA LIMITED Our Company was incorporated in New Delhi on October 23,1989 under the Companies Act, 1956 (the "Companies Act") as a public limited company under the name 'National

More information

RECONCILIATION OF SHARE CAPITAL AUDIT

RECONCILIATION OF SHARE CAPITAL AUDIT RECONCILIATION OF SHARE CAPITAL AUDIT Scrip code* 538464 NSE Symbol MSEI Symbol ISIN INE901C01017 Name of the company* THIRANI PROJECTS LTD. Registered office address Registered office address* 13, BRABOURNE

More information

The SEBI ICDR and Listing Regulations checklists

The SEBI ICDR and Listing Regulations checklists The SEBI ICDR and Listing Regulations checklists February 2018 KPMG.com/in Foreword Introduction Planning for an IPO is like conducting a symphony it has several facets, each intrinsically linked to the

More information

BID/ISSUE PROGRAMME BID/ISSUE OPENS ON: [ ] BID/ISSUE CLOSES ON: [ ]

BID/ISSUE PROGRAMME BID/ISSUE OPENS ON: [ ] BID/ISSUE CLOSES ON: [ ] DRAFT RED HERRING PROSPECTUS Dated: September 01, 2016 (This Draft Red Herring Prospectus will be updated upon filing with the RoC) Please read Section 32 of the Companies Act, 2013 100% Book Built Issue

More information

Heranba Industries Limited Draft Red Herring Prospectus. [This page is intentionally left blank]

Heranba Industries Limited Draft Red Herring Prospectus. [This page is intentionally left blank] Draft Red Herring Prospectus Please read section 32 of the Companies Act, 2013 Book Built Offer Dated: September 28, 2018 (The Draft Red Herring Prospectus will be updated upon filing with the RoC) Heranba

More information

RECONCILIATION OF SHARE CAPITAL AUDIT

RECONCILIATION OF SHARE CAPITAL AUDIT RECONCILIATION OF SHARE CAPITAL AUDIT Scrip code* 538464 NSE Symbol MSEI Symbol ISIN INE901C01017 Name of the company* THIRANI PROJECTS LTD. Registered office address Registered office address* 13, BRABOURNE

More information

1. Issued and Paid up capital Minimum issued, paid up and listed equity capital Rs 10 crores.

1. Issued and Paid up capital Minimum issued, paid up and listed equity capital Rs 10 crores. Norms for Direct Listing for Companies which are listed with Nationwide Stock Exchanges with Average Daily Turnover Less than Rs.500 Crores in equity segment during immediate previous Financial Year. Applicable

More information

INDOSTAR CAPITAL FINANCE LIMITED

INDOSTAR CAPITAL FINANCE LIMITED PROSPECTUS Dated May 14, 2018 (Please read Section 32 of the Companies Act, 2013) 100% Book Built Offer INDOSTAR CAPITAL FINANCE LIMITED Our Company was incorporated as R V Vyapaar Private Limited, a private

More information

Sr. No. Norms Heading Norms for Companies which are listed with Recognized Stock Exchanges

Sr. No. Norms Heading Norms for Companies which are listed with Recognized Stock Exchanges Norms for Direct Listing for Companies which are listed with Recognized Stock Exchanges or Nationwide Stock Exchanges with Average Daily Turnover Less than Rs.500 Crores in equity segment during immediate

More information

Public Issue of Unsecured Subordinated Redeemable Non-Convertible Debentures

Public Issue of Unsecured Subordinated Redeemable Non-Convertible Debentures Public Issue of Unsecured Subordinated Redeemable Non-Convertible Debentures Issue Opens: July 17, 2017 Issue Closes: July 31, 2017 @ Srei Equipment Finance Limited Registered Office: Vishwakarma, 86C,

More information

Synopsis. Introduction. IPO Unlisted Companies. PIPEs & QIPs Listed Companies. Issues - Insider Trading and Takeover Regulations.

Synopsis. Introduction. IPO Unlisted Companies. PIPEs & QIPs Listed Companies. Issues - Insider Trading and Takeover Regulations. Public offering of securities India Synopsis Introduction IPO Unlisted Companies General conditions for doing an IPO in India IPO Process Issues PIPEs & QIPs Listed Companies Overview of Investments &

More information

TCNS CLOTHING CO. LIMITED

TCNS CLOTHING CO. LIMITED Dsss PROSPECTUS Dated July 24, 2018 Please read Section 32(4) of the Companies Act 2013 100% Book Built Offer TCNS CLOTHING CO. LIMITED Our Company was incorporated as TCNS Clothing Co. Private Limited

More information

INDEX. cyril amarchand mangaldas. A Foreword 3

INDEX. cyril amarchand mangaldas. A Foreword 3 cyril amarchand mangaldas INDEX A Foreword 3 B C Infrastructure Investment Trusts I Introduction 6 II Offerings by InvITs 13 III Parties and Intermediaries to an InvIT 18 IV Transaction Documents 26 V

More information

ISSUE PROGRAMME. PROSPECTUS Dated: September 26, 2017 Read with Section 26 of the Companies Act, 2013 Book Built Issue

ISSUE PROGRAMME. PROSPECTUS Dated: September 26, 2017 Read with Section 26 of the Companies Act, 2013 Book Built Issue PROSPECTUS Dated: September 26, 2017 Read with Section 26 of the Companies Act, 2013 Book Built Issue R M DRIP AND SPRINKLERS SYSTEMS LIMITED Our Company was originally incorporated as R.M. Drip & Sprinklers

More information

CHAPTER II - INITIAL PUBLIC OFFER ON MAIN BOARD

CHAPTER II - INITIAL PUBLIC OFFER ON MAIN BOARD CHAPTER II - INITIAL PUBLIC OFFER ON MAIN BOARD PART I: ELIGIBILITY REQUIREMENTS Reference date 4. Unless otherwise provided in this Chapter, an issuer making an initial public offer of specified securities

More information