4,742,637 Equity Shares of Infollion Research Services Limited are subject to a Lock-Up Agreement Ending on 8-JUN-2024.
June 07, 2024
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4,742,637 Equity Shares of Infollion Research Services Limited are subject to a Lock-Up Agreement Ending on 8-JUN-2024. These Equity Shares will be under lockup for 369 days starting from 5-JUN-2023 to 8-JUN-2024.
Details:
Pursuant to Regulation 236 and 238 of SEBI (ICDR) Regulations, an aggregate of 20% of the post offer capital held by our Promoter shall be considered as Promoters? Contribution (?Promoters Contribution?) and locked-in for a period of three years from the date of allotment of equity shares issued pursuant to this Offer. The lock-in of the Promoters? 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.
In addition to 20.01% of the post offer capital of the company held by the Promoters, which will be locked-in for three years, the balance 30,70,299 equity shares held by promoters shall be locked in for a period of one year from the date of allotment in the Initial Public Offer as provided in clause (b) of Regulation 238 of the SEBI (ICDR) Regulations, 2018.
In terms of Regulation 239 of the SEBI (ICDR) Regulations, 2018, the entire pre-offer capital held by the persons other than the promoters shall be locked in for a period of one year from the date of allotment in the Initial Public Offer. Accordingly, 16,72,338 equity shares held by the persons other than the promoters shall be locked in for a period of one year from the date of allotment in the Initial Public Offer.
Infollion Research Services Limited is an India-based consulting company. The Company is a tech-oriented marketplace, operating in the business-to-business (B2B) human cloud segment, catering to on-demand contingent hiring and work arrangements with senior management talent, subject matter experts, and high-ranking seasoned professionals. It provides platform for workers or knowledge providers (gig workers) and employers or knowledge seekers to connect and find synergetic outcomes. The Company operates in the premium segment of the gig-economy and are one of the enablers of contingent hiring, temporary workforce management, contracting statement of work (SOW)-employees, high-level independent consultations, knowledge tours, and more. The Company arranges contractual work arrangements for its clients by identifying, screening, vetting, and matching work requirements based on various parameters such as the nature, duration, objective, location, and pricing.