The Securities and Exchange Board of India (SEBI) has issued a new circular introducing a revised format for the Abridged Prospectus for public issues of Non-Convertible Debt Securities and/or Non-convertible Redeemable Preference Shares. This update aims to simplify disclosures, improve clarity, ensure consistency across documents, and include essential additional information.
Securities and Exchange Board of India
Circular No. SEBI/HO/DDHS/PoD1/CIR/P/2023/150 Dated: September 04, 2023
To
Issuers who have listed and/ or propose to list debt Securities and Non-convertible
Redeemable Preference Shares
All Recognized Stock Exchanges
All Recognized Depositories
Merchant Bankers and Brokers registered with SEBI
Registrars to an Issue
All Registered Debenture Trustees
Madam/ Sir,
Sub: New format of Abridged Prospectus for public issues of Non-Convertible
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FAQ :
An Abridged Prospectus is a memorandum containing salient features of a full prospectus, as specified by SEBI, which must accompany any application form for purchasing a company's securities.
The format has been revised to further simplify disclosures, provide greater clarity and consistency, and include additional critical information in the Abridged Prospectus.
This new format applies to public issues of Non-Convertible Debt Securities and/or Non-convertible Redeemable Preference Shares.
The revised format for disclosures in the Abridged Prospectus is placed at Annex-I of the SEBI Circular No. SEBI/HO/DDHS/PoD1/CIR/P/2023/150.
Source : https://www.sebi.gov.in/legal/circulars/sep-2023/new-format-of-abridged-prospectus-for-public-issues-of-non-convertible-debt-securities-and-or-non-convertible-redeemable-preference-shares_76430.html