Can an entity, pursue listing of its specified securities without making a public issue? Give the exemptions, if any.

CS Professional · Corporate Funding & Listings in Stock Exchanges · PYQS · June 2019
Can an entity, pursue listing of its specified securities without making a public issue? Give the exemptions, if any.

Answer & Explanation:

Yes. Regulation 282(1) of the SEBI (ICDR) Regulations, 2018 provides that the provisions of Chapter X of SEBI (LODR) Regulations shall apply to issuers seeking listing of their specified securities pursuant to an initial public offer or for only trading on a stock exchange of their specified securities without making a public offer. Regulation 284 (3) of the SEBI (ICDR) Regulations, 2018 lays down that the regulations relating to the following as stated under the Chapter of Initial Public Offer on Main Board shall not be applicable: (a) allotment; (b) issue opening or closing; (c) advertisements; (d) underwriting; (e) sub-regulation (2) of regulation 5; (f) pricing; (g) dispatch of issue material; and (h) other such provisions related to offer of specified securities to the public.

Topics: Listing Regulations

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