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<h1>SEBI Enhances Debt Securities Issuance: Transparency Boost with New Disclosure Rules and Allotment Process Changes.</h1> The circular issued by SEBI addresses measures for the primary issuance of debt securities to enhance transparency and operational efficiency in the corporate bond market. Key directives include: mandatory disclosure of cash flows from debt securities in the offer document, with guidelines for payment dates falling on non-working days; removal of the requirement for bid uploads based on date-time priority, allowing allotment based on application upload date with proportionate distribution on oversubscription days; permission for listed issuers to disclose unaudited financials with a limited review report instead of audited financials for stub periods; and mandatory disclosure of debenture trustees' contact details in annual reports and on company websites. These provisions apply from specified dates in late 2013.