Sebi issues guidelines for returning draft document of public issues

Markets regulator Sebi on Tuesday came out with guidelines for returning the draft offer document for public issues and its resubmission in a bid to provide greater clarity and consistency in the disclosures as well as for timely processing. In a circular, Sebi said the draft offer document for public issue or rights issue of securities will be scrutinized based on the broad guidelines specified by it and accordingly, such document will be returned to the issuer for resubmission. Under the guidelines, the draft offer document is required to be prepared in simple language with visual representation of data to ensure ease of understanding of its contents and the information needs to be presented in a clear, concise, and intelligible manner. The draft offer document needs to avoid complex presentations; vague and ambiguous and imprecise explanations; repetition of disclosures in different sections of the document and inconsistency in the data or facts provided in different sections of

from Markets https://ift.tt/s35eUJ9