Reduction in denomination for debt securities and non-convertible redeemable preference shares

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....positories; Registered Credit Rating Agencies, Debenture Trustees, Merchant Bankers, Registrars to an Issue and Share Transfer Agents and Bankers to an Issue Madam/ Sir, Sub: Reduction in denomination for debt securities and non-convertible redeemable preference shares (Revision in Chapter V of the Operational Circular for issue and listing of Non-convertible Securities, Securitised De....

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....bility to access the market for corporate bonds. If the face value and trading lot is reduced, more investors can participate, which in turn will enhance the liquidity in the corporate bond market. 4. Accordingly, the following amendments are being made in Chapter V (Denomination of issuance and trading of Non-convertible Securities) of the Operational Circular: Paragraph 1.1. shall be repla....

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....ds through tranche placement memorandum, to keep the face value at Rs. Ten lakhs or Rs. One Lakh. Necessary addendum shall be issued by such issuer to the shelf placement memorandum. 6. The Circular is issued in exercise of the powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 read with Regulation 55 (1) of the SEBI (Issue and Listing of Non-convertibl....