Base Issue Size, Minimum Subscription, Retention of Over-Subscription Limit and further disclosures in the Prospectus for Public Issue of Debt securities

Minimum subscription requirement for public debt issues set with refund, oversubscription retention limits and enhanced prospectus disclosures.

SEBI mandates a 75% minimum subscription of the base issue size for public debt issues, sets a minimum base issue size, caps retention of over-subscription generally at 100% of the base size (with shelf and tax-free bond exceptions), requires refunds with interest for unmet minimum subscription, and prescribes enhanced prospectus disclosures including granular allocation of issue proceeds, a 25% cap on general corporate purposes, NBFC-specific lending disclosures, and specified additional clauses and certifications in the offer document.