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SEBI simplifies issuance and listing of debt securities

The Regulations will not apply to issue and listing of, securitized debt instruments and security receipts for which separate regulatory regime is in place

January 01, 1970 5:30 IST | India Infoline News Service
Securities and Exchange Board of India (SEBI) on Tuesday notified Regulations for Issue and Listing of Debt Securities to provide for simplified regulatory framework for issuance and listing of non-convertible debt securities (excluding bonds issued by Governments) issued by any company, public sector undertaking or statutory corporations.

The Regulations will not apply to issue and listing of, securitized debt instruments and security receipts for which separate regulatory regime is in place.

Cash flows emanating from the debt securities shall be mentioned in the Prospectus/Disclosure Document, by way of an illustration, SEBI said in a notification.

If the coupon payment date of the debt securities, falls on a Sunday or a holiday the coupon payment shall be made on the next working day. If the maturity date of the debt securities, falls on a Sunday or a holiday, the redemption proceeds shall be paid on the previous working day, SEBI added.

The allotment in the public issue of debt securities should be made on the basis of date of upload of each application into the electronic book of the stock exchange. However, on the date of oversubscription, the allotments should be made to the applicants on proportionate basis.

Listed issuers, who are in compliance with the listing agreement, may disclose unaudited financials with limited review report in the offer document.



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