Explain the following concept: Shelf Prospectus
Explain the following concept:
Shelf Prospectus
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- The company instead of preparing a fresh prospectus for every issue prepares a shelf prospectus.
- Shelf Prospectus can be used for all issues made by the company for up to one year.
- An Information Memorandum has to be filed with ROC every time during the validity period of one year of the shelf prospectus.
- Information Memorandum contains latest material facts such as new charges, changes in financial position, etc.
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