Securities And Exchange Board Of India - Subsection
Section 62(1) in The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018
(1)The issuer making a rights issue of specified securities shall ensure that:(a)it has made an application to one or more stock exchanges to seek an in-principle approval for listing of its specified securities on such stock exchanges and has chosen one of them as the designated stock exchange, in terms of Schedule XIX.(b)all its existing partly paid-up equity shares have either been fully paid-up or have been forfeited;(c)it has made firm arrangements of finance through verifiable means towards seventy five per cent. of the stated means of finance for the specific project proposed to be funded from issue proceeds, excluding the amount to be raised through the proposed rights issue or through existing identifiable internal accruals.
