Securities And Exchange Board Of India - Subsection
Section 78(6) in Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009
(6)The entire pre-preferential allotment shareholding of the allottees, if any, shall be locked-in from the relevant date upto a period of six months from the date of preferential allotment.Explanation. - For the purpose of this regulation:(I)The expression "total capital of the issuer" means:(a)equity share capital issued by way of public issue or rights issue including equity shares issued pursuant to conversion of specified securities which are convertible; and(b)specified securities issued on a preferential basis to promoter or promoter group.(II)(a)For the computation of twenty per cent. of the total capital of the issuer, the amount of minimum promoters' contribution held and locked-in, in the past in terms of Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000 or these regulations shall be taken into account.(b)The minimum promoters' contribution shall not again be put under fresh lock-in, even though it is considered for computing the requirement of twenty per cent. of the total capital of the issuer, in case the said minimum promoters' contribution is free of lock-in at the time of the preferential issue.
