Law

For the returning draft document of public issues, SEBI issues guidelines

On Tuesday, SEBI came up with guidelines for returning the draft offer document for the public issues and its resubmission in a bid for greater clarity and consistency.

As per the guidelines, the is important that the draft document must be prepared in simple language and with a visual representation of the data so that it can be ensured that the ease of understanding can be enabled.

The information must be presented in a clear, concise manner.

Complex presentations as well as vague and ambiguous explanations must be avoided.

SEBI has also asked to avoid the usage of legal and technical terminology. If used, the same must be provided with full clarification.

Within two days of the resubmission, the issuer shall make a public announcement as per the ICDR guidelines.

Regarding the return and resubmission a written intimation has to be given to the sectoral regulator.

Written By:- Shianjany Pradhan (@SHIANJANYPRADHAN)

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