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Private placement offer letter

Gargi Ranade (CS) (410 Points)

16 May 2014

Dear Sir,

Is there any minimum time period prescribed for which private placement offer has to be kept open ?

Regards,

Gargi

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Vandana J Doshi (Practising Company Secretary) (12562 Points)
Replied 17 May 2014

Hi,

The companies Act 2013 has not prescribed any time limit for which the private placement offer letter should be kept open.......Though the same for rights issue has been specifically stated....so it is the Company's discretion or one can follow the period stated for rights issue....