Eligibility criteria for an unlisted company
To make public issue what are the eligibility criteria for an unlisted company?
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Eligibility criteria that have to be fulfilled by the Unlisted Company to create public issue are illustrated below: i). Pre-issue net worth of company must not be fewer than Rs. 1 crore and it must be maintained for last three out of five years with smallest net worth. ii). The net worth must be met for prospect two years. iii). Tracking of the records of profits has to be managed for at least three years out of instantly prospect five years. iv). Issue size must not be more than five times its pre issue net worth. v). Incase these necessities are not fulfilled then the company can issue throughout book-building procedure, it has to allot at least sixty% of issue size to Qualified Institutional Buyers.
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