Section 19B in Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
19B. Security Deposit. - (1) The issuer shall deposit, before the opening of subscription list, and keep deposited with the stock exchange(s) an amount calculated at the rate of one per cent. of the amount of securities offered for subscription to the public.
(2)The amount stipulated in sub-regulation (1) shall be deposited in the manner specified by Board and/or stock exchange(s).(3)The amount stipulated in sub-regulation (1) shall be refundable or forfeitable in the manner specified by the Board."(iii)For regulation 23, the following shall be substituted, namely:-
