Securities And Exchange Board Of India - Subsection
Section 113(5) in The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018
(5)[ The SR equity shares of promoters, if any, shall be eligible towards computation of minimum promotersÂ’ contribution.] [Inserted by Notification No. SEBI/LAD-NRO/GN/2019/29, dated 29.7.2019.]Explanation:(I)For the purpose of this regulation, promoters' contribution shall be computed on the basis of the postissue expanded capital:(a)assuming full proposed conversion of convertible securities into equity shares;(b)assuming exercise of all vested options, where any employee stock options are outstanding at the time of further public offer.(II)For computation of "weighted average price":(a)"weight" means the number of equity shares arising out of conversion of such specified securities into equity shares at various stages;(b)"price" means the price of equity shares on conversion arrived at after taking into account predetermined conversion price at various stages.
