SEBI amended the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 (“ICDR Regulations 2018”) by way of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Third Amendment) Regulations, 2021 (“ICDR Amendment 2021/the Amendment”) in August 2021. The ICDR Amendment 2021 relates to the reduction of the lock-in period for promoters post an initial public officer (“IPO”).
Against this background, Abhiraj Arora, Associate Partner, Economic Laws Practice (ELP) has authored an article titled ‘SEBI’s ICDR Amendment: A Welcome Change (But Some Additional Clarifications Would Be Welcome Too!)’ for BW LegalWorld. In this article, Abhiraj discusses as to what the new provision entails, the rationale behind the reduction in the lock-in period, the interpretation and applicability of the ICDR Amendment 2021, and the way forward and rights of shareholders.
Read the detailed article here: https://bit.ly/3DtTJUW