Securities and Exchange Board of India (Sebi) is now planning to remove the 26-week part by amending the Issue of Capital and Disclosure Requirement (ICDR) rules, the people cited above said on condition of anonymity.Share prices have crashed since the coronavirus outbreak, and retaining the 26-week requirement would price the issues too high to attract any investors.
On 22 April, Sebi had issued a discussion paper suggesting these relaxations only for stressed firms, to help cash-starved companies raise funds.“This is based on the regulator’s primary market advisory committee (PMAC), which suggested that this pricing formula should be applied for all companies, instead of just stressed companies," said the first of the two people cited.