**Summary:**
This circular, reference number SEBI/HO/CFD/DIL1/CIR/P/2020/136, issued by the Securities and Exchange Board of India (SEBI) on July 24, 2020, extends the validity of relaxations pertaining to procedural matters related to Issues and Listing, specifically concerning Rights Issues. The relaxations, initially granted via Circular No. SEBI/HO/CFD/DIL2/CIR/P/2020/78 dated May 6, 2020, and previously applicable to Rights Issues opening up to July 31, 2020, are now extended to Rights Issues opening up to December 31, 2020. This extension is based on representations received from market participants. The circular is issued under the authority of Section 11(1) of the Securities and Exchange Board of India Act, 1992. The original circular (SEBI/HO/CFD/DIL2/CIR/P/2020/78) can be found at https://www.sebi.gov.in/legal/circulars/may-2020/relaxations-relating-to-procedural-matters-issues-and-listing_46652.html. For further information, Jeevan Sonparote, Chief General Manager, can be contacted at jeevans@sebi.gov.in.
Key Entities Referenced
Securities and Exchange Board of India (SEBI): Regulatory body for securities market in India
SEBI Issue of Capital and Disclosure Requirements Regulations, 2018: Regulations pertaining to the issuance of capital and disclosure requirements.
Rights Issue: An offering of shares to existing shareholders.
Section 11(1) of the Securities and Exchange Board of India Act, 1992: Legal section providing powers to SEBI
Registered Merchant Bankers: Entities registered with SEBI for merchant banking activities.
Recognized Stock Exchanges: Stock exchanges recognized by SEBI.
Registered Registrars to an Issue: Registrars registered with SEBI for handling issue-related matters.
Self Certified Syndicate Banks: Banks authorized to act as syndicate members in public issues.
CIRCULAR
SEBI/HO/CFD/DIL1/CIR/P/2020/136 July 24, 2020
To
All Registered Merchant Bankers
All Recognized Stock Exchanges
All Registered Registrars to an Issue
All Self Certified Syndicate Banks
All listed entities
All entities who propose to list the specified securities
Dear Sir/Madam,
Sub: Relaxations relating to procedural matters – Issues and Listing
1. SEBI vide Circular no. SEBI/HO/CFD/DIL2/CIR/P/2020/78 dated May 6, 2020 granted
one time relaxations from strict enforcement of certain regulations of SEBI (Issue of
Capital and Disclosure Requirements) Regulations, 2018, pertaining to Rights Issue
opening upto July 31, 2020.
2. Based on the representations received from the market participants, the validity of
relaxations, as provided by Circular No. SEBI/HO/CFD/DIL2/CIR/P/2020/78 dated
May 6, 2020 is further extended and shall be applicable for Rights Issues
opening upto December 31, 2020.
3. This Circular is issued in exercise of powers conferred by Section 11(1) of the
Securities and Exchange Board of India Act, 1992.
4. A copy of this circular is available at www.sebi.gov.in under the categories
“Legal Circulars.”
Yours faithfully,
Jeevan Sonparote
Chief General Manager
jeevans@sebi.gov.in
Link of Circular no. SEBI/HO/CFD/DIL2/CIR/P/2020/78 dated May 6, 2020
https://www.sebi.gov.in/legal/circulars/may-2020/relaxations-relating-to-procedural-matters-issues-and-listing_46652.html
Page 1 of 1