Driven by excellence, focused on strategies for the longer term.

This is the crux of who we are. It is an articulation of precision in purpose, from the Firm’s beginnings to where we are today. Our collective eye is unerringly trained on tomorrow.

Deep sectoral expertise across services and industries.

Our insistence on strategic advisory exacts an in-depth understanding of and involvement with our clients’ businesses and industries. We engage not just individual businesses, but also contribute to the country’s legal and regulatory frameworks.

Personal commitment supported by experience and grit.

We commit early. We pull together internally for greater support. Every effort is sincere, every individual deeply dedicated to their task, their role, to the Firm.

Our undertakings for long-term impact are an organic extension of our purpose.

They are to employ our deep knowledge of the law beyond the business, the transaction, the deal. To use the opportunities and skills we possess, to reflect on the culture we’re creating. Individually and collectively, these are our efforts to help shape the thinking of our future generations, and arm them with strategies for true, sustainable growth.

Knowledge-sharing is intrinsic to equity and inclusivity.

This is a repository of thought leadership, deep insights and strong viewpoints, legal and other news and events and how they impact the industry and our clients.

Relevance is critical to growth. It necessitates a firm that is dynamic and responsive.

Amplifying intrinsic talent, sharpening skills, expanding knowledge, is vital to leading. It defines every aspect of how our firm functions and transacts. This is how we create new benchmarks and set industry standards.

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Sep 30, 2020

Relaxation of Validity of SEBI Observations and Revision in Issue Size

SEBI had, by its circular dated April 21, 2020, given certain relaxations with respect to validity of SEBI observations and filing of fresh offer document in case of increase or decrease of issue size beyond a particular threshold, key details of which are covered in the June 2020 edition of Inter alia. Now, SEBI has (by a circular dated September 29, 2020) extended the validity of such relaxations, such that the validity of the SEBI observations expiring between October 1, 2020 and March 31, 2021 has been extended up to March 31, 2021. Further, for public issues or rights issues opening till March 31, 2021, all issuers whose offer documents are pending receipt of SEBI observations, have been permitted to increase or decrease the fresh issue size by up to 50% of the estimated issue size, without requiring to file fresh draft offer document with SEBI.

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These are the views and opinions of the author(s) and do not necessarily reflect the views of the Firm. This article is intended for general information only and does not constitute legal or other advice and you acknowledge that there is no relationship (implied, legal or fiduciary) between you and the author/AZB. AZB does not claim that the article's content or information is accurate, correct or complete, and disclaims all liability for any loss or damage caused through error or omission.

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