Under explanation to section 31 has been referred to mean a prospectus in respect of which the securities or class of securities included therein are issued for subscription in one or more issues over a certain period without the issue of a further prospectus.
It is a single prospectus for multiple public. Issuer is permitted to offer and sell securities to the public without a separate prospectus for each act of offering for a certain period.
An information memorandum is required to be filed by a company filing a shelf prospectus which shall contain all material facts relating to:-
- new charges created.
- changes in the financial position of the company as have occurred between the first offer of securities and the succeeding offer of securities and
- such other changes as may be prescribed.
No comments:
Post a Comment