Security receipts listing requires private placement, dematerialisation, independent valuation, credit rating, and listing compliance obligations. 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.