SEBI through circular dated April 22, 2021 has issued relaxations for procedural requirements related to issues and listing. The issuer along with Lead Manager(s), Registrar, and other recognized intermediaries (as incorporated in the mechanism) shall also ensure the following while complying with instructions under Circular dated May, 6 2020:
- Refund for un-allotted / partial allotted application shall be completed on or before T+1 day (T: Basis of allotment day).
- Registrar to the issue, shall ensure that all data with respect to refund instructions is error free to avoid any technical rejections. Further, in case of any technical rejection of refund instruction, same shall be addressed promptly.
The relaxation mentioned in point (iv) of the SEBI Circular dated May 6, 2020 is further extended and shall
be applicable for Rights Issues opening up to September 30, 2021.
