Relaxation with respect to Validity of SEBI Observations and Revision in issue size

Last updated: 30 September 2020

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The Securities and Exchange Board of India (SEBI) has announced an extension for certain relaxations concerning the validity of SEBI observations and revisions in issue size. These measures are in place due to prevailing conditions caused by Covid-19. The relaxation allowing revisions to an issue size of up to 50% will continue until March 31, 2021. Additionally, SEBI observations that were due to expire between October 1, 2020, and March 31, 2021, will now be extended until March 31, 2021.

Securities and Exchange Board of India CIRCULAR SEBI/HO/CFD/DIL1/CIR/P/2020/188 September 29, 2020 To All Registered Merchant Bankers All the Nationwide Stock Exchanges All Market Participants Dear Sir/Madam, Sub: Relaxation with respect to Validity of SEBI Observations and Revi

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FAQ :

This circular provides relaxations regarding the validity of SEBI observations and the revision of issue sizes for market participants.

The relaxation allowing revisions to an issue size of up to 50% will continue until March 31, 2021.

SEBI observations expiring between October 1, 2020, and March 31, 2021, will be extended up to March 31, 2021.

Yes, the extension is subject to an undertaking from the lead manager confirming compliance with Schedule XVI of the ICDR Regulations, 2018, when submitting the updated offer document.

This circular comes into force from October 01, 2020.