Define the following: Fast track issue.

Listed companies satisfying certain specified requirement are eligible to make fast track issue (FTIs) as per Regulation 10 of SEBI (ICDR) Regulations, 2009. Such listed companies are able to proceed with follow-on public offering/rights issue by filing a copy of the Red Herring Prospectus (in case of book built issue)/Prospectus (in case of fixed price issue) as the case may be, with SEBI and stock exchanges. Such companies are not required to file draft offer document with SEBI and stock exchanges. Accordingly the provisions relating to filing of offer document are not applicable to public issue of securities by a listed issuer company or a rights issue of securities by a listed issuer company, where the aggregate value of such securities, including premium, if any, exceeds ₹50 lacs, subject to compliance of certain conditions as laid down in the SEBI (ICDR) Regulations, 2009.