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SEBI issues draft norms for debt shelf offering

Comments are invited on the paper latest by December 02, 2013.

November 27, 2013 3:54 IST | India Infoline News Service
Capital market regulator SEBI (Securities and Exchange Board of India) has invited feed back from the public on its proposal to allow certain classes of companies to file ‘shelf’ prospectuses for public issues of non-convertible debt securities.

Comments are invited on the paper latest by December 02, 2013.

The regulator suggested that every issuer will file a prospectus with the registrar of companies before making a public issue.  The shelf prospectus must be filed at the time of the first issue and must mention the period of validity, which will not be more than one year.

Sebi proposes to allow public financial institutions, scheduled banks and CBDT-authorised companies to make public issues of tax-free bonds to file shelf prospectuses for non-convertible debenture issues.

It is also proposed to allow infrastructure debt funds launched by non-banking financial companies regulated by RBI and other NBFCs registered with the central bank to file shelf prospectuses for non-convertible debt issues.

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