SEBI Proposes to Introduce an Audio-Visual Representation of Disclosures Made in Offer Documents for Public Issue
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Circular No. SEBI/HO/CFD/TPD/CIR/P/2024/XXX; Dated: 19.03.2024
SEBI has proposed that the disclosures made in Draft Red Herring Prospectus (DRHP) and Red Herring Prospectus (RHP) of public issues shall also be made available in Audiovisual (AV) format by the issuer companies desiring to list on the main board. The AV on the public issues will be in bilingual version i.e. English and Hindi and made available in the public domain.
This move is intended to facilitate an easier understanding of the key features of an offer and also provide reference to various disclosures of the proposed public issue. The comments on the same must be submitted by 09.04.2024.
Further, the duration of each bilingual version of the AU must be a maximum of 8 minutes. The AV must be published by the Issuer/Lead Manager within 5 working days both at the stage of submission and resubmission of DRHP. It must be made available on both digital/social media platforms of the Issuer and the Association of Investment Bankers of India (AIBI).
The web link of the said AV must be made available on the websites of Stock Exchanges and the concerned Lead Managers and must also be accessible from the QR code pertaining to the public issue. Also, lead managers to the public issue must be jointly responsible for the content and information made available in the AV.
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