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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>New SEBI Rule: Issuers Must File Preliminary Placement Memorandum for Private Municipal Debt Listing via Merchant Banker.</h1> Issuers proposing to privately place municipal debt securities for listing must file a preliminary placement memorandum with the Securities and Exchange Board of India (SEBI) and relevant stock exchanges through a registered merchant banker. The merchant banker must submit specified disclosures and a due diligence certificate. SEBI may provide observations on the memorandum within fifteen days of receiving necessary documents or clarifications. The merchant banker must incorporate SEBI's comments before filing the placement memorandum with stock exchanges and provide additional due diligence certificates. Additionally, the debenture trustee must submit a due diligence certificate to SEBI before the private placement opens.
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