In a public issue, the equity shares and convertible debentures held by promoters are locked-in for the/period stipulated below:


1) Minimum promoters contribution is locked-in for a period of 3 years from the date of commencement of commercial production

or

date of allotment in the public issue, whichever is later.

2) Promoters’ holding in excess of minimum promoters’ contribution is locked-in for a period of 1 year.

However, excess promoters’ contribution in a further public offer is not subject to lock-in.

Leave a Reply

Your email address will not be published. Required fields are marked *