SEBI Operational Circular for issue and listing of NCS, SDI, SR, CP


Quick Summary
The Securities and Exchange Board of India (SEBI) has issued a new operational circular consolidating previous regulations for the issuance and listing of Non-convertible Securities (NCS), Securitised Debt Instruments (SDI), Security Receipts (SR), Municipal Debt Securities, and Commercial Paper (CP). This circular, effective from August 16, 2021, replaces several older regulations and provides a unified framework for these instruments. All relevant market participants, including issuers and stock exchanges, are required to comply with its provisions and implement necessary system changes.

Securities and Exchange Board of India OPERATIONAL CIRCULAR SEBI/HO/DDHS/P/CIR/2021/613 August 10, 2021 To Issuers who have listed and/ or propose to list Non-convertible Securities,Securitised Debt Instruments, Security Receipts, Municipal Debt Securities orCommercial Paper1; Reco
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FAQ :

The circular consolidates and details the operational framework for the issuance and listing of Non-convertible Securities, Securitised Debt Instruments, Security Receipts, Municipal Debt Securities, and Commercial Paper, replacing previous regulations and circulars.

This circular comes into force on August 16, 2021.

This circular is issued pursuant to the merger and repeal of the SEBI (Issue and Listing of Debt Securities) Regulations, 2008 and SEBI (Issue and Listing of Non-Convertible Redeemable Preference Shares) Regulations, 2013, into the new SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021.

Recognised Stock Exchanges, Depositories, other SEBI registered intermediaries, Issuers, and other stakeholders are directed to comply with the conditions laid down in this circular.

The circular is available on the SEBI website (sebi.gov.in) under the 'Legal Framework' section.

 

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