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<h1>SEBI Clarifies ISIN Rules: No New ISIN Needed for Changes in Security Unless Debt Terms Alter.</h1> The Securities and Exchange Board of India (SEBI) issued a clarification regarding its August 4, 2022, circular on enhanced guidelines for debenture trustees and listed issuer companies concerning security creation and initial due diligence. The clarification addresses whether a new International Securities Identification Number (ISIN) is needed when there is a change in underlying security, creation of additional security, or security creation for unsecured debt securities. SEBI states that these scenarios do not require a new ISIN unless other terms of the non-convertible debt securities change. Debenture trustees must comply with relevant regulations if there is a change in underlying security.