Explain minimum promoter's contribution to be brought in before public issue open under regulation 14(34).

As per Regulation 14(3) of the SEBI (Issue of Capital and Disclosure Requirements) Regulations 2018, the promoters shall bring full amount of the promoters' contribution including premium at least one day prior to the date of opening of the issue. In terms of the Regulation 14(4) of the said Regulations where the promoters have to subscribe to equity shares or convertible securities towards minimum promoters' contribution, the amount of promoters' contribution shall be kept in an escrow account with a scheduled commercial bank, which shall be released to the issuer along with the release of the issue proceeds. However, where the promoters' contribution has already been brought in and utilised, the issuer shall give the cash flow statement disclosing the use of such funds in the offer document. Further, where the minimum promoters' contribution is more than ₹ 100 crore and the initial public offer is for partly paid shares, the promoters shall bring in at least ₹ 100 crore before the date of opening of the issue and the remaining amount may be brought on a pro-rata basis before the calls are made to the public. Regulation 14(4) of the SEBI (Issue of Capital and Disclosure Requirements) Regulations 2018 further clarified that Promoters' contribution shall be computed on the basis of the post-issue expanded capital: assuming full proposed conversion of convertible securities into equity shares; assuming exercise of all vested options, where any employee stock options are outstanding at the time of initial public offer.