Comment sought on preferential issue review

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The Securities Exchange Board of India (SEBI) has issued a consultation paper to review guidelines for preferential issues regarding pricing, lock-in requirements, pledging of securities and other procedural matters.

“In order to facilitate fundraising by the issuers through preferential allotment of shares, while at the same time ensuring that such issuance is not detrimental to the interests of shareholders, a need is felt to carry out a comprehensive review of the entire guidelines for preferential issue so that the same may adequately reflect the present-day requirements of the market,” the consultation paper said.

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