Checklist on Right Issue of Equity under ICDR

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CS Sagar Khandelwal (Querist)

21 August 2010 Dear All,

Can any one provide me with the dActivity Checklist (Timeline wise) for Right Issue under ICDR

Thanks in advance

Regards,

Sagar RK

vrnanda

vrnanda (Expert)

22 August 2010 hey buddy u can find the data or ICDR Regulations on www.sebi.gov.in

hope that will help you.

in case still doubt write to me.

normally fpages and offer document should reach SEBI within 6 months from the date of last audited, it means gap between filing draft offer letter and the last balance sheet date should not exceed 6 months

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CS Sagar Khandelwal

CS Sagar Khandelwal (Querist)

22 August 2010 Hey thanks...

POOJA SACHDEVA

POOJA SACHDEVA (Expert)

22 August 2010 Dear sir

Please find the checklist in respect of issue of Right shares

1 Check whether the right issue is within the authorised share capital of the company.
2 In case listed company ensure to notify the stock exchange concerned the date of board meeting at which the right issue is proposed to be considered at least 2 days in advance

3 ensure to keep the right issue open for at least 30 days and not more that 60 days
4 ensure to convene the meeting and place before it proposal for right issue
5 Ensure that the board should decide on the following matters:
i Quantum of issue and the proportion of right shares
ii Alteration of share capital if necessary and offering the shares to person other than the existing holders of shares
iii fixation of record date
iv Appointment of merchant bankers and underwriters
v approval of draft letter of offer or authorisation of Managing director/ CS to finalise the letter of offer in consultation with managers to the issue ,the stock exchange and SEBI. The letter of offer should confirm to the disclosure prescribed in Form 2A
6 After th BM inform the stock exchage about the particulars of decision
7 Ensure forward Six sets of letter of offer to concerned stock exchange
8 Advertisement giving date completion of dispatch of LOF
9 Ensure to make arrangement with bankers for acceptance of share application form
10 Ensure to prepare a scheme of allotment of shares
11 convene a board meeting and made allotment of shares
12 Make an application to the stock exchange where the company's shares are listed for the permission of listing new shares
13 Check that a 3 day and 50 day monitoring report has been sent to SEBI

Regards

Pooja

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