Sep 1, 2008

Sebi tweaks with the definition of qualified institutional buyers

Sebi tweaks with the definition of qualified institutional buyers


The
market regulator Securities and Exchange Board of India (Sebi) on
Thursday, 28 August 2008, altered the Disclosure and Investor
Protection (DIP) guidelines to hasten the process of right issues.

In
another move, Sebi has disallowed FII sub-accounts falling in
categories of 'foreign corporate' and 'foreign individual' in the
definition of qualified institutional buyers (QIBs). These sub-accounts
will not be allowed to invest in primary market through Foreign
Institutional Investors (FIIs).

Sebi has allowed shares, which
have been acquired in a restructuring exercise to participate in offer
for sale. It has also increased the issue size limit of draft offer
documents, which are filed with Sebi's regional office to Rs 50 crore.

0 comments: