(1)

Subject to the compliance with the provisions of the Companies Act, 2013, a public issue may be opened:

(a) within twelve months from the date of issuance of the observations by the Board under regulation 6; or

(2)

an issue shall be opened after at least three working days from the date of [filing] [Substituted 'registering' by Notification No. SEBI/LAD-NRO/GN/2020/1, dated 1.1.2020 (w.e.f. 11.9.2018).] the prospectus with the Registrar of Companies.