OFS-7.4.12
While exercising the
(a) For any new public offering of equity securities , no subscriber is allotted more than 10% of the total shares offered;
(b) All subscribers are treated equally and in accordance with the allotment basis in all aspects, particularly when the rounding up rule is applied;
(c) No payment, direct or indirect in the nature of a discount, commission and allowance or otherwise may be made either by the issuer or the promoters in any public offer to the parties who received firm allotment ;
(d) No shareholder of the issuer may receive, directly or indirectly, any consideration in the nature of fees, commission, allowance or other benefit, whether in cash or in kind, in a public offering;
(e) The total securities allotted must in any case not exceed the total securities offered and approved by the General Assembly and the issuer , lead manager and any other appointed advisor must establish the allotment basis to avoid such possibility;
(f) Allotment of securities must avoid allocation of any securities fraction, and therefore the issuer must provide provisions related to the possibility of fractions of securities remaining after final allotment ; and
(g) For any rights issue , the pro-rata allotment basis must be applied, or otherwise the General Assembly of securities holders must have approved such other allotment basis.
January 2014