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

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....encies, Debenture Trustees, Merchant Bankers, Registrars to an Issue and Share Transfer Agents and Bankers to an Issue Madam/ Sir, Subject: Reduction in denomination of debt securities and non-convertible redeemable preference shares (Modification to Chapter V of the Master Circular for issue and listing of Non-convertible Securities, Securitised Debt Instruments, Security Receipts, Municipal D....

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....ords "shall be Rs. One lakh", the words "except as provided in Clause 1.3 below" shall be inserted. 3.2. Clause 1.3 shall be inserted with the following: "1.3 The Issuer may issue debt security or non-convertible redeemable preference share on private placement basis at a face value of Rs. Ten Thousand, (i) Subject to the following conditions: a) The issuer shall appoint at least one Mercha....

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....default guarantee structures; and g) Debt backed by Payment Waterfall /Escrow, or DSRA etc., but with Full Guarantee or DSRA Replenishment Guarantee from a third party (iii) In respect of the credit enhancements specified above, Credit Rating Agencies (CRAs) shall verify the documentation related to the specified support considerations to ensure the following: a) The support is unconditional....

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....2.1 of Chapter V of the Master Circular will stand deleted. The same is re-produced below: "The face value of a listed debt security or non-convertible redeemable preference share issued on private placement basis traded on a stock exchange or OTC basis shall be Rs. One lakh." 3.4. Clause 2.2 of Chapter V of the Master Circular will stand deleted. The same is re-produced below: "The face valu....

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