SEBI notifies amendment of SEBI (Issue and Listing of Non-Convertible Securities) Regulations: Inserts new Chapters and Schedule [Read Notification]
SEBI notifies amendment of SEBI – Issue and Listing of Non – Convertible Securities Regulations – Inserts new Chapters and Schedule – TAXSCAN
SEBI notifies amendment of SEBI – Issue and Listing of Non – Convertible Securities Regulations – Inserts new Chapters and Schedule – TAXSCAN
The Securities Exchange Board of India (SEBI) notified the amendment of SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021 vide notification no. SEBI/LAD-NRO/GN/2023/135 published on 6th July 2023. The new amendment has inserted two chapters and a schedule.
Under the authority granted by Section 30 of the Securities and Exchange Board of India Act, 1992, the Board has amended the Securities and Exchange Board of India (Issue and Listing of Non-Convertible Securities) Regulations, 2021.
The amended regulations may be called as Securities and Exchange Board of India (Issue and Listing of NonConvertible Securities) (Second Amendment) Regulations, 2023.
Following the addition of Chapter V, two new chapters, V A and V B, have been introduced. Chapter V A focuses on the issuance and listing of non-convertible securities through private placement. On the other hand, Chapter V B outlines the requirements specifically applicable to large corporates. Additionally, a new schedule, Schedule I, has been introduced to address disclosures related to the issuance of securities.
As per the new amendment, Schedule 1 mandates that any issuer intending to list their non-convertible securities on a recognized stock exchange through a public issue or private placement must provide the specified disclosures outlined in the said schedule.
The issuer shall mention the following information in the front page of the issue document. It includes Name of the issuer, its logo (if any), corporate identity number, permanent account number, date and place of incorporation, latest registration/identification number issued by any regulatory authority which regulates such issuer (i.e., Reserve Bank of India, Insurance Regulatory Development Authority of India etc.), if applicable, address of its registered and corporate offices, telephone number, website address and e-mail address…etc.
To Read the full text of the Order CLICK HERE
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