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of <h1>Issuers of convertible debt instruments must meet SEBI conditions, including credit ratings and debenture trustee appointments.</h1> An issuer making a public or rights issue of convertible debt instruments must meet specific conditions under SEBI regulations. These include obtaining a credit rating from recognized agencies, appointing debenture trustees per the Companies Act and SEBI regulations, and establishing a debenture redemption reserve. If secured convertible debt instruments are issued, the issuer must ensure assets are sufficient, unencumbered, and obtain necessary consents for secondary charges. The security cover must account for prior liabilities. Additionally, the issuer must redeem the instruments as specified in the offer document.
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