Framework for the process of accreditation of investors for the purpose of Innovators Growth Platform

 

 

31st May 2019

 

NOTICE

 

Sub: Framework for the process of accreditation of investors for the purpose of Innovators Growth Platform

 

To all Listed Companies

 

Attention of such aforesaid listed companies are drawn to SEBI Circular Ref. No. SEBI/HO/CFD/DIL2/CIR/P/2019/67 dated May 22, 2019 (copy available at CSE web-site at www.cse-india.com and SEBI web-site at www.sebi.com) wherein

 

 

“Accredited Investors (AIs) for the limited purpose of Innovators Growth Platform (“IGP”), are investors whose holding in the Issuer Company, is eligible for the computation of at least 25% of the pre-issue capital in accordance with Regulation 283.(1) of the SEBI (Issue of Capital & Disclosure Requirements) Regulations, 2018 (“ICDR Regulations”): 

 

 

“The following entities shall be eligible to be considered as AIs:

i. Any individual with total gross income of ? 50 lakhs annually and who has minimum liquid net worth of ? 5 crores; or

ii. Any body corporate with net worth of ? 25 crores.” 

 

SEBI Circular says:

“Implement the procedure for accreditation within 45 days from the date of issue of this Circular.”

 

This is for information and necessary action.

 

 

 

CS Chandrani Datta

Executive-Listing