The listing rules define equity instruments to include equity...

The listing rules define equity instruments to include equity shares, convertible debentures and preference shares issued by Indian companies. Unlisted public companies in International Financial Services Centres fall within the rules subject to compliance with applicable IFSC law and regulations, while public companies in that jurisdiction are excluded from rule 3(a). Companies with negative net worth may issue instruments for listing if they undertake to allot at least 75% of the net offer to qualified institutional buyers under the relevant jurisdiction's securities regulations. Rule 5(e) replaces "two years" with "more than six months", and rule 5(g) adds that the specified default must remain unremedied. The replacement Form LEAP-1 requires prospectus-related attachments, disclosure of inspection, investigation or inquiry, and professional certification. The amendments took effect on 3 November 2026.