a) SEBI vide press release 36/2020 dated June 25 has provided relaxations due to COVID-19.

b) Pricing of Preferential Issues:

    1) In case of frequently traded shares, the price of the equity shares to be allotted pursuant to the preferential issue shall be not less than higher of the following:

         i) The average of the weekly high and low of the volume weighted average price of the related equity shares quoted on the recognised stock exchange during the twelve weeks preceding the relevant date; or

         ii) The average of the weekly high and low of the volume weighted average prices of the related equity shares quoted on a recognised stock exchange during the two weeks preceding the relevant date.

    2) The specified securities allotted on preferential basis using the above pricing formula shall be locked-in for a period of three years. The existing pricing guideline for preferential issue, for frequently traded                 shares, as prescribed under Regulation 164(1) of the ICDR Regulations shall also continue to remain in force. The issuer may choose any one of the formula.

c)The said option in pricing shall be available for the preferential issues made between July 1, 2020 or date of notification of amendment to the Regulations, whichever is later and December 31, 2020.