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SEBI has modified provisions allowing issuers to issue debt securities and non-convertible redeemable preference shares on private placement basis at a face value of Rs. 10,000, subject to conditions like appointing a merchant banker, offering interest/dividend bearing securities without structured obligations, and permitting specified credit enhancements verified by credit rating agencies. Existing clauses mandating Rs. 1 lakh face value for privately placed listed debt securities and Rs. 1 crore for certain other listed securities have been deleted. Trading lot shall always be equal to face value. The circular aims to encourage retail participation and enhance liquidity in the corporate bond market.
SEBI has modified provisions allowing issuers to issue debt securities and non-convertible redeemable preference shares on private placement basis at a face value of Rs. 10,000, subject to conditions like appointing a merchant banker, offering interest/dividend bearing securities without structured obligations, and permitting specified credit enhancements verified by credit rating agencies. Existing clauses mandating Rs. 1 lakh face value for privately placed listed debt securities and Rs. 1 crore for certain other listed securities have been deleted. Trading lot shall always be equal to face value. The circular aims to encourage retail participation and enhance liquidity in the corporate bond market.
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