Issue of equity shares on preferntial basis to other than existing shareholdres
CHIDANANDA K R
(Querist) 25 July 2008
This query is : Resolved
Dear Sir,
If a Ltd company issues a additonal equity shares to other than existing sharehoders of the company on preferential basis.
what are the doucments required for we have to submitt to the stock exchange for permission of trading and listing of addditional equity shares issued on pref. basis.
Kindly advise me.
With regards,
KR CHIDANANDA
Manish Singh
(Expert) 04 August 2008
Fisrtly, there must be an egm authorising the said issuance.
The disclosures regarding identity of the proposed allotees, purpose and reason for such allotment, consequential change in control, Board of Directors, voting rights and shareholding pattern due to the above said allotment must be mentioned in the notice for the same.
apart from that you must comply with other regulations as under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997.
