Electronic book mechanism mandatory for large private debt placements to ensure transparent price discovery and standardised disclosures. Electronic book mechanism is required for large private placements of debt securities to standardise issuance and improve transparency; recognized stock exchanges may act as Electronic Book Providers after SEBI approval and meeting eligibility conditions (online bidding portal, infrastructure, disaster recovery, data security, periodic CISA audit). Participants are categorised with specified KYC responsibilities, issuers must make prescribed PPM disclosures and contract with EBPs, and detailed pre-bid, bidding and post-bid procedures govern enrolment, bid submission, issuer acceptance, allotment and public disclosure of aggregate anonymous bidding and allotment data.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Electronic book mechanism mandatory for large private debt placements to ensure transparent price discovery and standardised disclosures.
Electronic book mechanism is required for large private placements of debt securities to standardise issuance and improve transparency; recognized stock exchanges may act as Electronic Book Providers after SEBI approval and meeting eligibility conditions (online bidding portal, infrastructure, disaster recovery, data security, periodic CISA audit). Participants are categorised with specified KYC responsibilities, issuers must make prescribed PPM disclosures and contract with EBPs, and detailed pre-bid, bidding and post-bid procedures govern enrolment, bid submission, issuer acceptance, allotment and public disclosure of aggregate anonymous bidding and allotment data.
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