PR No.271/2009

SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 notified

SEBI (Issue of Capital and Disclosure requirements) Regulations, 2009 (ICDR Regulations), have been notified. The matters relating to issue of capital, the manner in which such matters shall be disclosed and other matters incidental thereto were hitherto provided in the SEBI (Disclosure and Investor Protection) Guidelines, 2000 (DIP Guidelines) issued under Section 11(1) of the SEBI Act, 1992. These provisions, along with few changes, have since been incorporated in the ICDR Regulations, which were notified on August 26, 2009. Consequently, the DIP Guidelines stand rescinded. A Circular has been issued today to merchant bankers / stock exchanges to inform them about the ICDR Regulations, its applicability and the significant changes vis-a-vis the rescinded Guidelines.

Consequential amendments have also been made to the SEBI (ESOS and ESPS) Guidelines, 1999 and Equity Listing Agreementthrough Circulars issued today. Further, a Circular has been issued today under Section 11 of the SEBI Act, read with rule 19(7) of the Securities Contracts (Regulation) Rules, 1957 (SCRR) in respect of matters relating to listing of securities under the SCRR, hitherto contained in the rescinded Guidelines.

The text of the ICDR Regulations and the Circulars is available on the website at www.sebi.gov.in under the categories "Legal Framework" and "Issues and Listing".

Mumbai

September 03, 2009