The promoters of Z Ltd. holds 78 percent shares of the Equity Share capital of the company. The promoters are intending to reduce their holding to meet the provisions of regulatory authorities of minimum public subscript
CS Professional · Corporate Funding & Listings in Stock Exchanges · PYQS · June 2021
The promoters of Z Ltd. holds 78 percent shares of the Equity Share capital of the company. The promoters are intending to reduce their holding to meet the provisions of regulatory authorities of minimum public subscription by way of Qualified Institutional Placement (QIP). Total Issued Share Capital of the Z Ltd. is ₹10 Crore consisting of 1 crore shares of ₹10 each. As a Company Secretary advise the Z Ltd. on the following points: (iii) Rules regarding the listing of these shares with the Stock Exchange.
Answer & Explanation:
Since the shares offered are in offer for sale and hence, already listed, no further listing is required.
Topics: Qualified Institutional Placement (QIP)
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