Markets regulator Sebi on Tuesday extended relaxations for companies with regards to compliance with procedural norms pertaining to rights issues opening till March 31 amid the ongoing coronavirus pandemic.
Earlier, this relaxation was given for rights issues opening till July 31, 2020, which was further extended till December 31, 2020.
Based on the representations received from the market participants, the validity of relaxations is further extended and shall be applicable for rights issues opening up to March 31, 2021, the Securities and Exchange Board of India (Sebi) said in a circular.
Under the relaxations, the abridged letter of offer, application form and other issues material to shareholders can be undertaken by electronic transmission as already provided under the ICDR (Issue of Capital and Disclosure Requirements) norms.
Source: The Economic Times
