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<h1>Security receipts listing requires private placement, dematerialisation, independent valuation, credit rating, and listing compliance obligations.</h1> Listing of security receipts requires private placement issuance, compliance with applicable law, dematerialisation, specified offer disclosures, restricted offer size, minimum allotment standards to qualified buyers, an independent valuation within a defined recent period, and a credit rating from a registered agency; issuers must also comply with the Board's listing and disclosure obligations.