General Manager Corporation
Finance Department Phone:
+91 22 26449350 (D), Email: neelamb@sebi.gov.in
SEBI/CFD/DIL/LA/3/2009/03/09
The
Managing Director/ Executive Director/ Administrator of all the Stock Exchanges
Dear
Sirs,
Sub.: Amendments to Equity Listing
Agreement
1.
The
matters relating to issue of capital and the manner of disclosure of such and
other matters incidental thereto have been provided in the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009
(hereinafter referred to as “the ICDR Regulations”). The ICDR Regulations have
been notified on
2.
It
has been decided to incorporate the provisions of clause 3.5.3 of the SEBI (Disclosure
and Investor Protection) Guidelines, 2000 (since rescinded) in the equity
listing agreement, as these provisions pertain to
compliance of listing conditions by a listed issuer.
3.
Accordingly,
it has been decided to amend clause 19 of the equity listing agreement, by
inserting a sub-clause after sub-cause (c), as under:
“(d)
that in case of a further public offer to be made through the fixed price
route, the company shall notify the stock exchange, at least 48 hours in
advance, of the proposed meeting of its Board
of Directors convened for determination of issue price.”
4.
This
circular is issued in exercise of powers conferred by sub-section (1) of section
11 of the Securities and Exchange Board of India Act, 1992, to protect the
interest of investors in securities and to promote the development of, and to
regulate the securities market. This circular is available on SEBI website at www.sebi.gov.in under the categories “Legal
Framework” and “Issues and Listing”.
Yours
faithfully,
Neelam
Bhardwaj