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Question

Which of the following statements is/are correct with reference to the follow-on public offers (FPOs)?

A The applicability of minimum promoters’ contribution norm and the subsequent lock-in requirements for the issuers making the FPO have been done away with by SEBI.
B Earlier, promoters were mandated to contribute 20% towards a FPO.
C Both A & B
D None of these
Answer & Explanation
Option: Both A & B

Explanation:

SEBI relaxed the framework for follow-on public offers (FPOs), a move that will help promoters of companies to raise funds more easily through this route. The applicability of minimum promoters’ contribution norm and the subsequent lock-in requirements for the issuers making the FPO have been done away with by the regulator, as per a notification. Earlier, promoters were mandated to contribute 20% towards a FPO.
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