I would be highly grateful if anyone could explain Regulation 26 (e) of SEBI (ICDR) , 2009 with an example
As per the SEBI (ICDR) Regulations 2009, vide Regulation 26 (d) & (e), a listed Company shall be eligible to make a public issue of equity shares or any other security which may be converted into or exchanged with equity shares at a later date provided
(e) if it has changed its name within the last one year, at least fifty per cent. of the revenue for the preceding one full year has been earned by it from the activity indicated by the new name.
I am confusd abt the wordings used in the above clause.. Plz explain with a practical example.
18 August 2012
Hello Praveen, For your above query I think following Example will work.
Suppose Mahindra and Mahindra manufactures Automobiles in the mane and style of M&M auto Limited. from 1990
In 2010 its Name has been changed to M&M Industries Limited to enter in to produce Lubricants of Vehicles like engine oil etc. it means now it can oprate i two diffrent industries in single head.
Now in this case suppose company wish to IPO in the year 2011-12, then the in 2010-11 the revenue from New sector should be as per Reg. 26(e)
CAclubindia
