Securities And Exchange Board Of India - Subsection
Section 84(3) in The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018
(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.
