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What is price band in preferntial allotment

Nidhi Jain (CS ) (987 Points)

27 October 2010

someone tell me what s the price band and relevant date in case of preferntial allotment

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CS Ankur Srivastava (Company Secretary & Compliance Officer) (17853 Points)
Replied 28 October 2010

Originally posted by : Nidhi Jain
	someone tell me what s the price band and relevant date in case of preferntial allotment

In case of preferential allotment in Listed Companies:-

Relavant date means:-

a. in case of preferential issue of equity shares, the date thirty days prior to the date on which the meeting of shareholders is held to consider the proposed prefential issue.

Provided that in case of preferential issue of equity shares pursuant to a scheme approved under the Corporate Debt Restructuring framework of Reseve Bank of India, the date of approval of the Corporate Debt Restructuring Package shall be the relevant date.

b. In cae of preferential issue of convertible securities, either the relevant date referred to in clause (a) above or a date thirty days prior to the date on which the holders of the convertible securities become entitled to apply for the equity shares.