SECURITIES AND EXCHANGE BOARD OF INDIA
PRIMARY MARKET DEPARTMENT
Mittal Court, A Wing, Gr. Floor,
224, Nariman Point, Mumbai 400 021
Tel : 2850451 – 2850456
Fax : 2045633
DIP (Compendium) Series Circular No. 5
November 30, 2000
To All Registered Merchant Bankers
Sub: Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000
Guidelines for offering securities in public issues through the Stock Exchange mechanism.
The SEBI Board had considered the proposal of offering securities in public issues through the stock exchange mechanism and after considering the advantages of the system, approved the proposal.
Accordingly, the Guidelines for offering securities in public issues on – line through the stock exchange mechanism have been framed. The Guidelines are contained in a new chapter XI A (inserted by this circular) after the existing Chapter XI of the SEBI (Disclosure and Investor Protection) Guidelines, 2000.
Chapter XI A shall be applicable in respect of fixed-price issues as well as for the fixed price portion of book-built issues. The company making public issues of securities shall now have the option to issue securities through the on-line system of the Stock Exchange or through the existing banking channel.
The Guidelines shall come into force with effect from the date of the circular.
O P GAHROTRA
SENIOR EXECUTIVE DIRECTOR