CAIRR Update February 16, 2023

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CAIRR Update February 16, 2023

February 16, 2023

Summary of the Circular issued by SEBI on 15/02/2023

This circular is integrated in our free-to-use website ca2013.comClick here to view the SEBI Circular.

SEBI issues circular for introduction of Issue Summary Document (“ISD”) and dissemination of issue advertisement

SEBI has designed an Issue Summary Document (“ISD”) to make relevant information available at the Stock Exchanges and Depositories in a structured manner and facilitate consumption of data by stakeholders. The Submitting Entity is required to file the prescribed details with the Stock Exchange where the securities of the entity are listed or proposed to be listed. The ISD is introduced in XBRL format for the following in three phases:

1. First phase w.e.f. 01/03/2023:

  • Public issue of specified securities

2. Second phase w.e.f. 03/04/2023:

  • Further issue, Rights issue, issue of American Depository Receipts (ADRs), Global Depository Receipts (GDRs) and Foreign Currency Convertible Bonds (FCCBs)

3. Third phase w.e.f. 02/05/2023:

  • Buy-back of equity shares
  • Open offer under SAST Regulations
  • Voluntary delisting of equity shares where exit opportunity is required under SEBI Delisting Regulations
Further, the Lead Managers to the public issue are required to disseminate advertisements of the public issue under SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 in PDF format on the website of the stock exchanges from 01/03/2023.

The circular also provides for the format of the ISD. 

By | 2023-02-17T16:59:00+00:00 February 17th, 2023||0 Comments

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