The Securities and Exchange Board of India (SEBI) on March 04, 2025, issued the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Amendment) Regulations, 2025, to further amend the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018.
The following has been stated namely:-
• It states that in the new regulations for Rights Issues by listed issuers will come into effect after April 4, 2025, and apply to issues approved thereafter, while those approved before will continue to be governed by the previous SEBI regulations and further it provides that the amendments in regulation 3 [LX, LXI, LXII, LXV, LXVIII, LXIX, LXX, LXXII, LXXIII, LXXIV, LXXVI, LXXVII, XC(iii)(A), XCIV and XCV] shall apply to the draft offer documents filed after the date of coming into force of these regulations.
• In regulation 2, sub-regulation (1), clause (e) shall be substituted with”- “(e) “associate” shall mean a person or any entity which is an associate under sub-section (6) of section 2 of the Companies Act, 2013 or under the applicable accounting standards”.
• In regulation 2, sub-regulation (1), clause (m), the word “Board” shall be substituted with the words and symbols “stock exchange(s)”.
• In regulation 2, sub-regulation (1), after clause (o), a new clause shall be inserted, namely,- “(oa) “financial year” shall have the same meaning as assigned to it under sub-section (41) of section 2 of the Companies Act, 2013”.
Detailed notification is attached below.
[Notification no. SEBI/LAD-NRO/GN/2025/233]
