Amendments to the SEBI ICDR Regulations and SEBI LODR Regulations – A Step Towards Easing Fund-Raising in India

SEBI has amended the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 (SEBI ICDR Regulations) on and effective from 17 May 2024, by way of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Amendment) Regulations, 2024 (ICDR Amendment), to facilitate ease of raising capital in India by allowing minimum promoters’ contribution to be met by certain persons other than the promoters of the issuer company undertaking an initial public offering (IPO) and reducing the minimum extension of the offer period in exigencies, amongst others, as further detailed below.