Public Offer Account definition

Public Offer Account means the bank account to be opened with the Public Offer Account Bank, under Section 40(3) of the Companies Act, 2013 to receive monies from the Escrow Account and ASBA Accounts on the Designated Date.

Public Offer Account has the meaning ascribed to such term in the Offer Documents.

Public Offer Account means the ‘no-lien’ and ‘non-interest bearing’ bank account to be opened with the Public Offer Account Bank, under Section 40(3) of the Companies Act, 2013 to receive monies from the Escrow Account(s) and ASBA Account(s) on the Designated Date;

Examples of Public Offer Account in a sentence

• The Escrow Collection Bank, Public Offer Account Bank, the Refund Bank, the Sponsor Banks and the Registrar to the Offer undertake that their respective branch(es) or any Affiliate to whom they disclose information pursuant to this Agreement, shall abide by the confidentiality obligations imposed by this Section 12.

• For the avoidance of doubt, under no circumstances shall the Company and the Selling Shareholder be entitled to the receipt of or benefit of the amounts lying in the Escrow Accounts, the Public Offer Account or the Refund Account, except in accordance with provisions of Section 3.2.3 of this Agreement.

• The amounts to be transferred to the Public Offer Account by the Escrow Collection Bank represent Bids from Anchor Investors that have received confirmed allocation in respect of the Equity Shares in the Offer and amounts, if any, paid by the Underwriters or any other person pursuant to any underwriting obligations in terms of the Underwriting Agreement.

• The Sponsor Banks, based on the UPI Mandate Request approved by the respective UPI Bidders at the time of blocking their funds, will raise the debit/collect request from the respective ASBA Account and issue necessary instructions, whereupon the funds will be transferred from such ASBA Account to the Public Offer Account based on the finalized basis of allocation and the remaining funds, if any, will be unblocked without any manual intervention by the UPI Bidder.

• The Company and the Selling Shareholders, may in consultation with the BRLMs appoint a new escrow collection bank, public offer account bank, sponsor bank or refund bank as a substitute for the retiring Escrow Collection Bank, Public Offer Account Bank, Refund Bank or Sponsor Bank within fourteen (14) days of the termination of this Agreement as aforesaid.

More Definitions of Public Offer Account

Public Offer Account means the bank account opened with the Public Offer Account Bank, under Section 40(3) of the Companies Act to receive monies from the Escrow Account and from the ASBA Accounts on the Designated Date;

Public Offer Account means the bank account opened with the Bankers to the Offer by the Company under Section 73 of the Companies Act to receive money from the Escrow Accounts on the Designated Date and where the funds shall be transferred by the SCSBs from the ASBA Accounts;

Public Offer Account means the bank which is a clearing member and registered with SEBI as a banker to an issue, and with whom the Public Offer Account(s) will be opened ;

Public Offer Account means the account established in accordance with Clause 2.3 of this Agreement.

Public Offer Account shall have the meaning given to such term in Section 2.2(b);

Public Offer Account means an account opened in accordance with the provisions of Section 40(3) of the Companies Act, with the Public Offer Bank to receive monies from the Escrow Accounts and the ASBA Accounts on the Designated Date in this case being Axis Bank Limited;

Public Offer Account has the meaning given to such term in the Offer Documents; “Public Offer Account Bank” has the meaning given to such term in the Offer Documents; “RBI” shall mean the Reserve Bank of India;