Who Can Participate in The Issue?
The specified securities can be issued only to QIBs, who shall not be promoters or related to promoters of the issuer. The issue is managed by a Sebi-registered merchant banker. There is no pre-issue filing of the placement document with Sebi. The placement document is placed on the websites of the stock exchanges and the issuer, with appropriate disclaimer to the effect that the placement is meant only QIBs on private placement basis and is not an offer to the public.
Read more about this topic: Qualified Institutional Placement
Famous quotes containing the word participate:
“A large city cannot be experientially known; its life is too manifold for any individual to be able to participate in it.”
—Aldous Huxley (1894–1963)