SEBI dispenses the requirement to deposit the 1% of the issue size, with the designated stock exchange

In order to facilitate the ease of doing business to the Issuer company, SEBI has dispensed off with the requirement to deposit 1% of the issue size available for subscription to the public exchange by the Issuer company.  

The Stock Exchanges will frame a joint Standard Operating Practise [SOP] for release of the 1% security deposit that were deposited with stock exchanges by issuer prior to the abovementioned amendments in the ICDR Regulations, 2018. 

The circular will be applicable immediately. 

https://www.sebi.gov.in/legal/circulars/nov-2024/withdrawal-of-master-circular-on-issuance-of-no-objection-certificate-noc-for-release-of-1-of-issue-amount_88655.html