ICDR amendments for SME Exchanges

Dear All

SEBI came with most awaited ICDR Regulations for SME exchanges, the silent provisions of the Regulations under Chapter XV are as follows

1. An issuer whose post-issue face value capital does not exceed ten crore rupees shall issue its specified securities in accordance with provisions of this Chapter.
2. An issuer, whose post issue face value capital is more than ten crore rupees and upto twenty five crore rupees, may also issue specified securities in accordance with provisions of this Chapter.
3. Other provisions of ICDR shall automatically applicable to issued under chatpter XA
4. However, provisions of sub-regulations (1), (2) and (3) of regulation 6,- 10,  25- 27 and  49 (1) of these regulations shall not apply to an issue of specified securities made under this Chapter

Read in details here