Tag: Listing Agreement
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Preposterous policy view from SEBI on QIPs and Public Shareholding
[Posted by Somasekhar Sundaresan] The Securities and Exchange Board of India has issued an informal guidance relating to the Listing Agreement and the SEBI (Disclosure and Investor Protection) Guidelines (“DIP Guidelines“) that defies all logic and reason. Clause 13.A.1.1(b) of the DIP Guidelines, which governs private placements to qualified institutional buyers, provides that a listed…