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SEBI has decided to provide similar relaxations in the eligibility conditions related to Fast Track Further Public Offer (FPO) as contained in the SEBI “ICDR Regulations. In Regulation 155(c) related to ‘eligibility conditions for fast track route’ is substituted stating that average market capitalisation of public shareholding of the issuer is at least Rupees 500 crores instead of Rs. 1000 crores in case of public issue. Further, Regulation 155(l) has been substituted, namely to capture the impact of audit qualifications, if any and where quantifiable, on the audited accounts of the issuer in respect of those financial years for which such accounts are disclosed, shall be appropriately disclosed and accounts accordingly restated, in the offer documents. All these temporary relaxations shall be valid for all the FPO’s that will be opened on or before March 31, 2021, and shall not applicable for issuance of warrants.

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