Zen Systems Plc. incorporated in Australia wants to raise funds from India through issue of Indian Depository Receipts (IDRs). As a Finance Consultant of the company in India, comment upon each of the following with refe
CS Professional · Secretarial Audit, Compliance Management and Due Diligence · PYQS · June 2019
Zen Systems Plc. incorporated in Australia wants to raise funds from India through issue of Indian Depository Receipts (IDRs). As a Finance Consultant of the company in India, comment upon each of the following with reference to the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) [SEBI (ICDR)] Regulations, 2018. (i) Issue size is ₹40 crore;
Answer & Explanation:
Issue size shall not be less than fifty crore Rupees. [Regulation 183 (2)(a)]
Topics: SEBI (ICDR) Regulations, 2018
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