5,365,760 Equity Shares of B-Right Realestate Limited are subject to a Lock-Up Agreement Ending on 16-JUL-2023.
Details:
Pursuant to Regulation 236 and 238 of SEBI (ICDR) Regulations, 2018, an aggregate of 20% of the post issue capital held by the Promoters shall be considered as Promoterâs Contribution (âPromoterâs Contributionâ) and shall be locked in for a period of three years from the date of allotment of Equity shares issued pursuant to this Issue. The lock in of Promoterâs Contribution would be created as per applicable law and procedure and details of the same shall also be provided to the Stock Exchange before listing of the Equity Shares.
As on the date of this Draft Prospectus, the Promoters hold 50,30,400 Equity Shares constituting 67.68 % of the Post â Issued, subscribed and paid-up Equity Share Capital of the Company, which are eligible for the Promoterâs contribution.
The Promoters have given written consent to include 20,66,240 Equity Shares held by them and subscribed by them as part of Promoterâs Contribution constituting 20.00% of the post issue Equity Shares of the Company. Further, they have agreed not to sell or transfer or pledge or otherwise dispose of in any manner, the Promoterâs contribution, for a period of three years from the date of allotment in the Issue.
In terms of Regulation 238(b) and 239 of the SEBI (ICDR) Regulations, 2018, in addition to the Minimum Promoterâs contribution which is locked in for three years, as specified above, the entire pre-issue equity share capital constituting 53,65,760 Equity Shares shall be locked in for a period of one year from the date of allotment of Equity Shares in this Issue.