SEBI Removes Requirement for No Objection Certificate for Release of 1% of Issue Amount Under ICDR Regulations
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- Last Updated on 23 November, 2024
Circular No. SEBI/HO/CFD/CFD-PoD-2/P/CIR/2024/0161, Dated 21.11.2024
Earlier, SEBI removed the requirement for issuers to deposit 1% of the issue size with the stock exchange under ICDR Regulations. Now, SEBI has withdrawn the requirement for a No Objection Certificate for the release of the 1% deposit. However, Exchanges must establish a joint operating procedure for releasing the 1% security deposit deposited by issuers before the amendments to the ICDR Regulations. This circular will be effective immediately.
Click Here To Read The Full Circular
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