Securities And Exchange Board Of India - Subsection
Section 15(1A) in Securities And Exchange Board Of India (Foreign Institutional Investors) Regulations, 1995
(1A)[ Where a foreign institutional investor or sub-account holds equity shares in a company whose shares are not listed on any recognised stock exchange, and continues to hold such shares after initial public offering and listing thereof, such shares shall be subject to lock-in for the same period, if any, as is applicable to shares held by a foreign direct investor placed in similar position, under the policy of the Central Government relating to foreign direct investment for the time being in force.
