Preferential issuance norms undergo changes by SEBI
SEBI (ICDR)(Amendment) Regulations, 2022 notified!
- Payal Agarwal, Senior Executive (payal@vinodkothari.com)
Last updated – 16th January, 2022
With an attempt to modify the existing preferential issuance norms applicable on listed companies, SEBI in its board meeting (‘ Meeting’) held on 28th December, 2021 approved several recommendations as contained in the Consultation Paper rolled out on 26th November, 2021 where it was proposed to revamp the preferential issue norms under Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 [‘ICDR Regulations’], especially, for one that entails an open offer or change in control in the issuer company. With the notification of SEBI (ICDR) (Amendment) Regulations, 2022 (‘Amendment Regulations’) the amendments have been made to the existing ICDR Regulations thereby amending the preferential issuance norms for listed companies with effect from the date of its publication in the official gazette, i.e., 15th January, 2022.