Ashish Ojha (Chartered Accountant) (469 Points)
17 October 2010From ICDR Regulations 2009... Regulation 4 General Conditions for issues.. What does this clause means
(2) No issuer shall make a public issue or rights issue of specified securities:
(g) unless firm arrangements of finance through verifiable means towards 75% of the stated means of finance, excluding the amount to be raised through the the proposed public issue or rights issue or through the existing identifiable internal accruals have been made.
rvsekar2000
(212 Points)
Replied 17 October 2010
Vineet Maheshwari
(CS)
(27 Points)
Replied 07 April 2018
Firm arrangements of finance "through verifiable means" towards 75% of stated menas of finance, excluding the amount to be raised through proposed IPO or indentificable internal accurals
If,
Total Cost of Project : Rs. 2300 crores
Less: Proposed IPO : Rs. 2000 crores
Funds required excluding the net proceeds of the IPO: Rs.300 crores
Required firm arrangements for over 75% of the funds required excluding the IPO : Rs. 225 crores (i.e. 75% of Rs. 300 crores)
Accordinlgy,
Rs. 225 crores should be finance through verrifiable means of finance for exp. bank or company should have internal accruals to the extent of this amount. Generally for internal accurals companies provided a CA certficate that they have the sufficent cash and bank balance in hand.
For any query can be contact me at: csvineetmaheshwari @ gmail.com
MANJU S
(Student CA Final )
(22 Points)
Replied 11 March 2019
CAclubindia
