Regulation 57 of the Listing Regulations enables a listed entity to make rights issue subject to compliance with the requirements as may be specified by the IFSCA.
Accordingly, IFSCA vide this circular specifies the framework for a listed entity desirous of raising capital through rights issues.
This circular shall apply to listed entities whose specified securities are listed solely on the recognised stock exchange(s) in the IFSC, and shall not apply to the issuers with secondary listing on such recognised stock exchange(s).
This circular prescribes the General Conditions and Additional Requirements for Preferential Issue and QIP. Applicability, Definitions, Compliance with applicable laws, Eligibility Requirements Record date, Pricing, Conditions and Procedure for Issuance etc.
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