Section 104 in The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018
104. General conditions.
(1)An issuer making a further 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 specified securities already issued and proposed to be issued;(c)all its existing partly paid-up equity shares have either been fully paid-up or have been forfeited;(d)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 the issue proceeds, excluding the amount to be raised through the proposed public issue or through existing identifiable internal accruals.(2)The amount for general corporate purposes, as mentioned in objects of the issue in the draft offer document and the offer document, shall not exceed twenty five per cent. of the amount being raised by the issuer.Explanation: For the purposes of this regulation, "project" means the object for which monies are proposed to be raised to cover the objects of the issue.
