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1 Fastrack Issues (FTI) on Thu 18 Oct 2012 - 11:58


CSoC Master
CSoC Master
Fast Track Issues (FTI)

SEBI has introduced FTI in order to enable well established and compliant listed companies satisfying certain specific entry norms/conditions to access Indian Primary Market in a time effective manner. Such companies can proceed with FPOs / Right Issues by filing a copy of RHP (red herring prospectus) / Prospectus with the Registrar of Companies (RoC) or the Letter of Offer with designated Stock Exchange (SE), SEBI and Stock Exchanges. Such companies are not required to file Draft Offer Document for SEBI comments and to Stock Exchanges. Entry Norms for companies seeking to access Primary Market through FTI’s in case aggregate value of securities including premium exceeds Rs. 50 lacs. The following are the eligibility criteria and:

(i) The shares of the company have been listed on any stock exchange having nationwide terminals for a period of at least three years immediately preceding the date of filing of offer document with RoC/ SE.

(ii) The “average market capitalisation of public shareholding” of the company is at least Rs. 10,000 crores for a period of one year up to the end of the quarter preceding the month in which the proposed issue is approved by the Board of Directors / shareholders of the issuer;

(iii) The annualized trading turnover of the shares of the company during six calendar months immediately preceding the month of the reference date has been at least two percent of the weighted average number of shares listed during the said six months period;

(iv) The company has redressed at least 95% of the total shareholder / investor grievances or complaints received till the end of the quarter immediately proceeding the month of the date of filing of offer document with RoC/ SE.

(v) The company has complied with the listing agreement for a period of at least three years immediately preceding the reference date;

(vi) The impact of auditors’ qualifications, if any, on the audited accounts of the company in respect of the financial years for which such accounts are disclosed in the offer document does not exceed 5% of the net profit/ loss after tax of the company for the respective years.

(vii) No prosecution proceedings or show cause notices issued by the Board are pending against the company or its promoters or whole time directors as on the reference date; and

(viii) The entire shareholding of the promoter group is held in dematerialised form as on the reference date.


2 Re: Fastrack Issues (FTI) on Mon 5 Nov 2012 - 22:45


CSoC King
CSoC King
Nice post.

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