The Full Form of ICDR is Issue of Capital and Disclosure Requirements.

The Security and Exchange Board of India (SEBI) on Monday notified the Issue of Capital And Disclosure Requirements (Second Amendment) Regulations, 2020, whereby new proviso has been inserted which states pricing norms in the preferential issue of shares of companies having stressed assets. The Board seeks to amend the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018. After Regulation 164 the new Regulation 164A shall be inserted which relates to Pricing in the preferential issue of shares of companies having stressed assets. “In case of frequently traded shares, the price of the equity shares to be allotted pursuant to the preferential issue shall not be less than the average of the weekly high and low of the volume-weighted average price of the related equity shares quoted on a recognized stock exchange during the two weeks preceding the relevant date,” Regulation 164A(1) says. No allotment of equity shares shall be made unless the issuer company meets any two of the 3 criteria that are fulfilled. Firstly, the issuer has disclosed all the defaults relating to the payment of interest/ repayment of principal amount on loans from banks / financial institutions/ Systemically Important Non-Deposit taking Non-banking financial companies/ Deposit taking Non-banking financial companies and /or listed or unlisted debt securities in terms of SEBI Circular dated November 21, 2019, and such payment default is continuing for a period of at least 90 calendar days after the occurrence of such default.