Key Requirements and Conditions
Disclaimer Requirements
The Company must print a specific disclaimer clause in its Letter of Offer after SEBI's disclaimer clause and in all advertisements where BSE's name is mentioned. The disclaimer clearly states that:
- BSE does not warrant, certify or endorse the correctness or completeness of the letter of offer contents
- BSE does not warrant that the company's securities will be listed or continue to be listed
- BSE takes no responsibility for the financial or other soundness of the company, its promoters, management, or any scheme/project
- The permission should not be construed as clearance or approval of the letter of offer by BSE
For advertisements, the company may use abbreviated disclaimer text instead of the full clause.
Record Date and Pricing Requirements
The company must:
- Fix a record date for the rights issue
- Provide at least three working days advance notice to the Exchange for the record date
- Disclose and intimate the rights issue price of equity shares at least 3 working days prior to the record date
Compliance Obligations
The company must comply with all legal and statutory formalities before finalizing offer documents. The company is solely responsible for:
- Disclosures made in or omitted from offer documents
- Any consequences arising from non-disclosure, suppression, or misstatement of information
- Non-issuance of corrigendum where applicable
- Non-intimation of information to the Exchange and shareholders
Post-Issue Requirements
The in-principle approval for listing is subject to the company completing post-issue requirements and complying with necessary statutory, legal & listing formalities.
Specific Compliance Instructions
The company must ensure:
- Confirmation of posting of letter of offer & composite application form before dealings in Letters of Renunciation are permitted
- Agreements with all depositories for dematerialization of securities
- Option for investors to receive allotment in dematerialized form through any depository
- Approval of Basis of Allotment by Designated Stock Exchange, even in case of under-subscription
- Appointment of qualified Company Secretary as Compliance officer as per SEBI LODR Regulation 6(1)
- Payment of all applicable charges levied by Exchange for system/software usage
- Compliance with Sections 186 and 188 of Companies Act, 2013 and Regulation 23 of SEBI LODR Regulations, 2015 prior to filing listing application
- Procurement of ODI compliance certificate from Secretarial Auditor before filing listing application