32Red herring prospectus
(1) A company proposing to make an offer of securities may issue a red herring prospectus prior to the issue of a prospectus.
(2) A company proposing to issue a red herring prospectus under sub-section (1) shall file it with the Registrar at least three days prior to the opening of the subscription list and the offer.
(3) A red herring prospectus shall carry the same obligations as are applicable to a prospectus and any variation between the red herring prospectus and a prospectus shall be highlighted as variations in the prospectus.
(4) Upon the closing of the offer of securities under this section, the prospectus stating therein the total capital raised, whether by way of debt or share capital, and the closing price of the securities and any other details as are not included in the red herring prospectus shall be filed with the Registrar and the Securities and Exchange Board.
Explanation.-- For the purposes of this section, the expression "red herring prospectus" means a prospectus which does not include complete particulars of the quantum or price of the securities included therein
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- 23 Public offer and private placement
- 24 Power of Securities and Exchange Board to regulate issue and transfer of securities, etc
- 25 Document containing offer of securities for sale to be deemed prospectus
- 26 Matters to be stated in prospectus
- 27 Variation in terms of contract or objects in prospectus
- 28 Offer of sale of shares by certain members of company
- 29 Public offer of securities to be in dematerialised form
- 30 Advertisement of prospectus
- 31 Shelf prospectus
- 32 Red herring prospectus
- 33 Issue of application forms for securitie
- 34 Criminal liability for mis-statements in prospectus
- 35 Civil liability for mis-statements in prospectus
- 36 Punishment for fraudulently inducing persons to invest money
- 37 Action by affected persons
- 38 Punishment for personation for acquisition, etc., of securitie
- 39 Allotment of securities by company
- 40 Securities to be dealt with in stock exchanges
- 41 Global depository receipt