ARTICLE · 30 APRIL 2020

COVID-19: Temporary Easing Of SEBI Fundraising Rules

S&R Associates

These relaxations are expected to reduce deal timelines and ease the compliance requirements for fund-raising from the capital markets.

IndiaCoronavirus (COVID-19)

Juhi Singh

With a view to facilitate fund-raising from the capital markets in the wake of the current COVID-19 pandemic, the Securities and Exchange Board of India ("SEBI") has decided to grant certain relaxations from the provisions of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended (the "ICDR Regulations"), to public issues (both initial and further public offerings) and rights issues.

The relaxations, which are contained in two separate SEBI circulars each dated April 21, 2020, essentially relate to (i) the validity of the SEBI observations, (ii) the requirement to file a fresh draft offer document in case of change in issue size and (iii) certain conditions applicable to rights issues.

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COVID-19: Temporary Easing Of SEBI Fundraising Rules

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