Securities And Exchange Board Of India - Subsection
Section 105(c) in The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018
(c)if the equity shared offered for sale were issued under a bonus issue on securities held for a period of at least one year prior to the filing of the draft offer document with the Board and further subject to the following:(i)such specified securities being issued out of free reserves and share premium existing in the books of account as at the end of the financial year preceding the financial year in which the draft offer document is filed with the Board; and(ii)such equity shares not being issued by utilisation of revaluation reserves or unrealized profits of the issuer.
