SEBI has, by way of a Notification dated May 23, 2023, notified certain amendments to the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, in relation to the following:
i. Entering into underwriting arrangements for an initial public offering and a further public offer, prior to filing of the red herring prospectus, to cover under subscription in the initial public offer;
ii. Allotment of shares pursuant to bonus issues to be only in dematerialised form;
iii. Inclusion of “pension funds sponsored by entities which are associate of the lead manager”, to participate in the anchor investor category in a public issue; and
iv. Inclusion of the following requirements with respect to an offer document:
- providing access to the material contracts and material documents for inspection through online means apart from inspection at the registered office;
- providing a complete industry report as one of the material documents for inspection; and
- hosting a draft red herring prospectus on the website of an issuer company.