Preferential issue

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

15 March 2013 dear sirs,

kindly provide the details of lock in equity shares at the time of prefrential issue in detalils

Ajay Mishra

Ajay Mishra (Expert)
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15 March 2013 Your company is listed company or non listed company.

Querist : Anonymous

Querist : Anonymous (Querist)

16 March 2013 public listed company..

example:

No. of shares
Existing Shares 100
Proposed New Allotment
(preferential issue to Promoters) 20

Pls note: 15 shares held by Promoters had been locked in for 3 years in IPO and are free now as 3 years is over.

QUERY : How new allotment of 20 shares will be locked in (for 3 years or 1 year or no lock in?)

Ajay Mishra

Ajay Mishra (Expert)
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16 March 2013 Hi

At the time of issue of shares your shares will be locked from the date of relevant date up to 6 months from the date of allotment as per ICDR, Regulation 2009.

Your new allotment of 20 shares shall be locked for a period of 3 years from the date of allotment as per Regulation 78 of Sebi (ICDR) Regulation, 2009.

Querist : Anonymous

Querist : Anonymous (Querist)

16 March 2013 Sir,

Regulation 78 also said that Them minimum promoters contri. shall not again be put under fresh lock-in, even though it is considered for computing the requirement of 20% of the total capital of the issuer, in case the said minimum promoters contribution is free of locki-in at the time of the preferential issue.

so, howmany shares are to be put in lock in as of now?

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