In terms of Regulations 44(1) and 59C of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (“ICDR Regulations”), a public issue may be opened within twelve months and eighteen months respectively from the date of issuance of observations by SEBI. SEBI has received representation from the Industry body on difficulties faced by the issuers in mobilizing resources and accessing the capital market in the backdrop of ongoing geopolitical tensions in the Middle East.
Considering the representation of the Industry Body, the prevailing uncertain market conditions due to ongoing geopolitical tensions and subdued investor participation, SEBI has decided to grant one time relaxation to extend validity of the SEBI Observations letters, expiring between April 1, 2026 – September 30, 2026 till September 30, 2026, subject to an undertaking from Lead Manager to the issue confirming compliance with Schedule XVI of the ICDR Regulations while submitting the updated offer document to the Board
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