SEBI Circular: ISINs for Debt IPOs to Activate on Trading Start Date; Temporary Freeze for Other Offerings.

The circular issued by SEBI mandates that ISINs for debt securities in IPOs are to be activated only on the trading commencement date. To prevent premature transfers of additional shares or securities from offerings like rights issues or preferential allotments, depositories must freeze these under a temporary ISIN until final listing approval is granted. Once approved, these securities will be transferred to the existing ISIN for trading. Depositories are instructed to amend relevant regulations and inform their participants of these changes. This directive is issued under the authority of the Securities and Exchange Board of India Act and the Depositories Act to safeguard investor interests.

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