Securities and Exchange Board of India (SEBI) has amended the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2022 (SEBI ICDR Regulations) through its notification SEBI/LAD-NRO/GN/2022/107 dated 21 November 2022 (Amendment), pursuant to which it has introduced confidential pre-filing of draft offer document for IPOs on main board.
The Securities and Exchange Board of India (SEBI) vide its Notification No. SEBI/LAD-NRO/GN/2022/103 dated 14 November 2022 has further amended the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 (SEBI LODR Regulations) by notifying the SEBI (Listing Obligations and Disclosure Requirements) (Sixth Amendment) Regulations, 2022 (Amendment).
Aayush Mohata is a Partner in the Capital Markets practice group in the Mumbai office. He is a specialised securities lawyer with over 9 years of experience. He has advised numerous clients on a wide variety of capital market transactions including initial public offerings, follow-on public offerings, rights issues, qualified institutions placements, American / global depository receipts, preferential issues and REITs. He has also advised sellers and brokers in secondary trades like block sales.
Oishik Bagchi is a Partner in the Capital Markets practice group based in the Mumbai office. He regularly advises issuers, promoters, selling shareholders, merchant bankers other intermediaries on a wide range of capital-markets transactions, including initial public offerings (IPOs), qualified institutions placements (QIPs), rights issues, and secondary sale transactions. Oishik is particularly recognised for his expertise in handling IPO-related disputes that arise at critical stages, with the potential to jeopardise the listing process.
The Securities and Exchange Board of India (SEBI), on 6 October 2017 had introduced the circular on categorization and rationalization of mutual fund schemes in order to bring uniformity across mutual funds by standardizing scheme categories broadly into equity schemes, debt schemes, hybrid schemes, solution oriented schemes and other schemes.
The Securities and Exchange Board of India (SEBI), on 1 November 2018, had introduced the Unified Payment Interface (UPI) with Application Supported by Blocked Amount (ASBA) as an additional payment mechanism for retail individual investors to invest in certain capital market transactions. UPI is an instant payment system, which was developed by the National Payments Corporation of India.
Keeping in line with its focus to streamline the debt public issue process, across the gamut of securities, SEBI issued a circular on 23 November 2020 (Circular), introducing the Unified Payments Interface (UPI) mechanism as an additional mode for making online applications for public issues of various debt securities such as debentures, non-convertible redeemable preference shares, securitised debt instruments and municipal debt securities.
The Securities and Exchange Board of India (SEBI) has issued Guidelines for rights issues of units by unlisted Infrastructure Investment Trusts (InvIT) (Guidelines) through its circular dated 4 November 2020. SEBI introduced the framework for private unlisted InvITs in April 2019, however, the mechanism for further issues of units by unlisted InvITs under the SEBI (Infrastructure Investment Trusts) Regulations, 2014 (InvIT Regulations) remained restricted to private placements through the issuance of a placement memorandum.
