New Delhi, March 19 (IANS) Markets regulator SEBI has proposed that the disclosures made in the DRHP and RHP of public issues shall also be made available in audiovisual (AV) format by the issuer companies desiring to list on the main board.
Further, the AV on public issues will be in a bilingual version, i.e., English and Hindi, and made available in the public domain.
It is expected that the AV will provide ease in understanding the salient features and also provide reference to the various disclosures of the proposed public issue, SEBI said in a consultation paper.
Companies desirous of raising capital through public issues are required to file a Draft Red Herring Prospectus (DRHP) with the SEBI and the stock exchanges.
The disclosures in DRHP are appropriately updated in line with the observations issued by the SEBI and the stock exchanges and thereafter the Red Herring Prospectus (RHP) is filed with the SEBI and the Registrar of Companies (ROC).
The aforementioned disclosures enable investors to make informed decisions while investing in public issues.
In the guidelines for AV, SEBI said the duration of each bilingual version of the AV shall be a maximum of eight minutes.
The total duration of the AV shall be equitably distributed among the material disclosures made under various sections of the public issue offer document viz. risk factors, capital structure, objects of the offer, business of the issuer, financial information, litigations, and material developments.
The content of the AV shall be factual, non-repetitive, and non-promotional in nature.
The AV shall be revised with updated information at the stage of Red Herring Prospectus (RHP), SEBI said.
The AV shall be published by the Issuer/Lead Manager within five working days both at the stage of submission and resubmission of DRHP. It shall be made available on digital/social media platforms of the Issuer and Association of Investment Bankers of India (AIBI).
The web link of the said AV shall be made available on the websites of Stock Exchanges and the concerned Lead Managers and shall also be accessible from the QR code about the public issue.
The Lead Managers to the public issue shall be jointly responsible for the content and information made available in the AV, SEBI said.
–IANS
san/arm
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
