SEBI amends DIP guidelines

Mumbai, Aug 28 (UNI) Market regulator Securities and Exchange Board of India (SEBI) has amended the disclosure and investor protection (DIP) guidelines.

The guidlines were amended in an effort to inter-alia reduce the timelines involved in rights issue process, modify pricing and eligibility provisions for Qualified Institutions Placement (QIP), modify pricing provisions for preferential allotment to Qualified Institutional Buyers (QIBs) and to exclude sub-accounts in the category of foreign corporate and foreign individuals from QIB category, an official release stated.

It has also been done to allow filing of draft offer documents of issue size up to Rs 50 crore with SEBI Regional Offices, SEBI added.

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