Section 84 in The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018
84. Issue-related advertisements.
(1)The issuer shall issue an advertisement in at least one English national daily newspaper with wide circulation, one Hindi national daily newspaper with wide circulation and one regional language daily newspaper with wide circulation, at the place where registered office of the issuer is situated, [and also give an intimation to the stock exchanges for dissemination on their websites] [Inserted by Notification No. SEBI/LAD-NRO/GN/2019/47, dated 26.12.2019 (w.e.f. 11.9.2018).] at least [two] [Substituted 'three' by Notification No. SEBI/LAD-NRO/GN/2019/47, dated 26.12.2019 (w.e.f. 11.9.2018).] days before the date of opening of the issue, disclosing the following:(a)the date of completion of despatch of abridged letter of offer and the application form;(b)the centres other than registered office of the issuer where the shareholders or the persons entitled to receive the rights entitlements may obtain duplicate copies of the application form in case they do not receive the application form within a reasonable time after opening of the rights issue;(c)a statement that if the shareholders entitled to receive the rights entitlements have neither received the original application forms nor they are in a position to obtain the duplicate form, they may make application in writing on a plain paper to subscribe to the rights issue along with a format specifying therein necessary particulars such as name, address, ratio of rights issue, issue price, number of equity shares held, ledger folio numbers, depository participant ID, client ID, number of equity shares entitled and applied for, additional shares if any, amount to be paid along with application, and particulars of cheque, etc. to be drawn in favour of the issuer`s account;(d)a statement that the applications can be directly sent by the shareholders through registered post together with the application monies to the issuer's designated official at the address given in the advertisement;(e)a statement to the effect that if the shareholder makes an application using the application form as well as plain paper, both the applications shall be liable to be rejected at the option of the issuer.(2)During the period the issue is open for subscription, no advertisement shall be released giving an impression that the issue has been fully subscribed or oversubscribed, or indicating investors' response to the issue.(3)An announcement regarding closure of issue shall be made only after the lead manager(s) is satisfied that at least ninety per cent. of the offer through letter of offer has been subscribed and a certificate has been obtained to that effect from the registrar to the issue:Provided that such an announcement shall not be made before the date on which the issue is to be closed except for issue closing advertisement made in the format prescribed in these regulations.
