Privately placed corporate debt rules permit listing and trading in standard market lots subject to prescribed disclosures. Clarifies that SEBI's requirements govern listing and trading of privately placed debt securities issued on or after the circular date and existing issues subject to a transition deadline, excluding instruments with maturity under 365 days. Issuers must make prescribed initial and continuing disclosures, may host disclosures on exchange websites for standard denominations, and may file umbrella offer documents. Intermediary engagement is discretionary but accountable; no SEBI vetting or mandatory deposit applies. Securities must be dematerialised, carry a SEBI-registered credit rating, and may trade in a separate anonymous order-driven segment in the standard marketable lot.
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Provisions expressly mentioned in the judgment/order text.
Privately placed corporate debt rules permit listing and trading in standard market lots subject to prescribed disclosures.
Clarifies that SEBI's requirements govern listing and trading of privately placed debt securities issued on or after the circular date and existing issues subject to a transition deadline, excluding instruments with maturity under 365 days. Issuers must make prescribed initial and continuing disclosures, may host disclosures on exchange websites for standard denominations, and may file umbrella offer documents. Intermediary engagement is discretionary but accountable; no SEBI vetting or mandatory deposit applies. Securities must be dematerialised, carry a SEBI-registered credit rating, and may trade in a separate anonymous order-driven segment in the standard marketable lot.
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