Sebi board meet: Rights issue to be completed within 23 working days - MMJC

Capital markets regulator SEBI has approved norms to enable faster rights issue along with the flexibility of allotment to specific investors and giving an investment opportunity to existing shareholders.

Under the new norms, the rights issue should be completed in 23 working days from the date of issuer’s Board meeting approving rights issue, as against present average timelines of 317 days.

“With reduced timelines, corporates can have faster access to funds through rights issue. Revised rights issue timelines would make it a preferred option for fundraising as it gives an opportunity to all existing shareholders to be a part of growth story of company,” said Makarand M Joshi, Founder, MMJC and Associates.

The views of Mr. Makarand Joshi – Partner – have been covered in the Economic Times and can be accessed at the following link:

https://economictimes.indiatimes.com/markets/stocks/news/sebi-board-meet-rights-issue-to-be-completed-within-23-working-days/articleshow/113825087.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst