Infolex News Alert - SEBI Hot-Wires FPOs - Relaxes Fast-Track Norms

Over the last few months, the Securities and Exchange Board of India (“SEBI”) has offered much-needed relaxations to the companies struggling with the disruption caused by COVID-19. With unlock 2.0 being implemented and markets beginning to gain momentum, the capital markets regulator continues to address the challenges faced by listed entities in fundraising. In continuation to its circular dated April 21, 2020 (the ‘Rights Issue Circular’), SEBI has, by a circular dated June 09, 2020 (“Circular”), granted certain temporary relaxations from certain eligibility conditions for a fast-track further public offer (“FPO”) under the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, amended (“SEBI ICDR Regulations”). INDUSLAW’s Priyadarshini Rao and Radhika Pandey discuss.