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An issue making public offer issue shall adhere to the conditions of Chapter III of SEBI (ICDR) Regulations as on the date of filing a draft offer document with the Board (SEBI) and also at the time of registering the offer document with the Registrar of Companies.
Provided that in the case where the equity shares received on conversion or exchange of fully paid-up compulsorily convertible securities and also depository receipts are being offered for sale, the holding period of such convertible securities and that of resultant equity shares together shall be considered for calculation of one-year period prescribed in this sub-regulation:
Provided further that the requirement of holding equity shares for a period of one year will not be applicable:
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