Securities And Exchange Board Of India - Subsection
Section 7(1) in The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018
(1)An issuer making an initial public offer 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)it has entered into an agreement with a depository for dematerialisation of the specified securities already issued and proposed to be issued;(c)all its specified securities held by the promoters are in dematerialised form prior to filing of the offer document;(d)all its existing partly paid-up equity shares have either been fully paid-up or have been forfeited;(e)it has made firm arrangements of finance through verifiable means towards seventy five per cent. of the stated means of finance for a specific project proposed to be funded from the issue proceeds, excluding the amount to be raised through the proposed public issue or through existing identifiable internal accruals.
