Securities Exchange Board of India (SEBI)
July 8, 2014
Circulars:
Circular on extension of timeline on alignment of employee benefit scheme with SEBI (ESOS and ESPS) Guidelines, 1999
SEBI has issued a circular CIR/CFD/POLICYCELL/3/2014 dated 27th June, 2014.
SEBI Board has approved certain proposals for framing a new set of regulations concerning employee benefit schemes dealing in shares of the company. The new regulations shall come into force as and when notified.
SEBI has decided to extend the time line for aligning existing employee benefit schemes with the SEBI (ESOS and ESPS) Guidelines, 1999 till the new regulations are notified.
However, it is reiterated that prohibition on acquiring securities from the secondary market shall continue till the existing schemes are aligned with the new regulations to be notified.
Base Issue Size, Minimum Subscription, Retention of Over-Subscription Limit and further disclosures in the Prospectus for Public Issue of Debt securities
SEBI has issued a circular dated 17th June, 2014 and the provisions of this circular shall be applicable for the draft offer document for issuance of debt securities filed with the designated stock exchange on or after July 16, 2014.
The circular details regarding the following:
- Minimum Subscription Limit
- Base Issue Size
- Retention of Over-Subscription Limit
- Further disclosures in the prospectus for Debt Issues
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