TaxTMI 
TaxTMI 
Relaxation from the ISIN restriction limit for issuers desirous of listing originally unlisted ISINs (outstanding as on December 31, 2023)
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....gnised Stock Exchanges; Registered Depositories Madam/ Sir, Subject: Relaxation from the ISIN restriction limit for issuers desirous of listing originally unlisted ISINs (outstanding as on December 31, 2023) (Modification to Chapter VIII of the Master Circular for issue and listing of Non-convertible Securities, Securitised Debt Instruments, Security Receipts, Municipal Debt Securities....
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....nafter referred as 'NCS Master Circular') issued by SEBI, specifies provisions pertaining to maximum number of ISINs that can mature in a financial year in respect of private placement of debt securities. 3. Clause 1 of Chapter VIII of NCS Master Circular reads as under: "In respect of private placement of debt securities, the following shall be complied with regard to ISINs, utilised ....
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....g in a given financial year, reaches Rs.15,000 crore, then three additional ISINs would be permitted to mature in the same financial year. The same should be intimated by the issuer to the stock exchanges and depositories. b. A maximum of five ISINs maturing per financial year shall be allowed for structured debt securities and market linked debt securities. 1.3 Where an issuer i....
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....um limit of ISINs specified in clause 1 of Chapter VIII of the NCS Master Circular. 5. Accordingly, clause 4A is hereby inserted in Chapter VIII of the NCS Master Circular: "4A. Unlisted ISINs outstanding as on December 31, 2023 which are converted to listed ISINs, pursuant to the provision of Regulation 62A(2) of LODR Regulations shall be excluded from the maximum limit of ISINs to ma....