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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>SEBI Circular: New Rules for Public Debt Issues Require 75% Minimum Subscription and Detailed Disclosures for NCDs.</h1> The circular issued by SEBI outlines regulations for public issues of debt securities, including non-convertible debentures (NCDs). It mandates a minimum subscription of 75% of the base issue size, with refunds required if this threshold is not met. The base issue size must be at least Rs. 100 crores. Issuers can retain over-subscriptions up to 100% of the base issue size. Detailed disclosures regarding the objectives of the issue and utilization of proceeds are required, especially for NBFCs. Additional disclosures in offer documents are specified, with the circular applicable to draft documents filed from July 16, 2014.
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