Page 12
RED HERRING PROSPECTUS [SECTION 32]
A company may issue a red herring prospectus before the issue of a prospectus.
“Red herring prospectus” means a prospectus which does not include complete particulars of the quantum or price of the securities included therein.
The company shall file red herring prospectus with Registrar of companied at least three days before the opening of the subscription list and the offer.
A red herring prospectus shall carry the same obligation as are applicable to a prospectus. In case there is any variation between red herring prospectus and a prospectus shall be highlighted as variation in the prospectus.
Upon the closing of the offer of securities, the prospectus shall be filed with the Registrar and the Securities and Exchange Board of India. This prospectus shall state (a) total capital raised, (b) whether debt capital or share capital, (c) closing price of the securities and (d) any other details not included in red herring prospectus.
Please continue to next page of this post.
AishMGhrana 