Rights issue: New guidelines put in place on refund of un-allotted, partially allotted applications
PTI
New Delhi |
Updated on
April 22, 2021
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The refund for un-allotted/partial allotted application has to be completed on or before T+1 day Markets regulator Sebi on Thursday came out with new guidelines pertaining to refund for un-allotted and partially allotted applications for rights issue. The issuer along with lead manager(s), registrar, and other recognized intermediaries shall also ensure the refund for un-allotted/partial allotted application shall be completed on or before T+1 day (T: Basis of allotment day), Sebi said in a circular.
Also, they will have to ensure that all data with respect to refund instructions is error-free to avoid any technical rejections, the regulator said.