Review of provisions pertaining to Electronic Book Provider (EBP) platform to increase its efficacy and utility

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....gencies, Debenture Trustees, Merchant Bankers, Registrars to an Issue and Share Transfer Agents and Bankers to an Issue, Stock Brokers, Depository Participants, and other relevant market participants Madam/ Sir, Subject: Review of provisions pertaining to Electronic Book Provider (EBP) platform to increase its efficacy and utility 1. In order to increase the efficacy and utility of the EBP platform and have a review of various feedback received on the primary issuance of various securities on a private placement basis, SEBI had set up a working group. It may be mentioned that the Master circular no. SEBI/HO/DDHS/PoD1/P/CIR/2024/54 dated May 22, 2024 in its Chapter VI - "Electronic Book Provider platform", Chapter VII - "Standardiza....

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....access EBP platform for private placement of securitised debt instruments or security receipts or CPs or CDs, and issuers constituted as REITs, SM REITs and InvITs may also access the EBP platform for private placement of units of REITs, SM REITs and InvITs. 4. Issuers of debt securities, NCRPS and municipal debt securities on private placement basis of issue size less than Rs. 20 crore may also choose to access the EBP platform for such issuances. 5.2. The Issuer shall provide the Placement Memorandum and term sheet (i.e. summary of important terms and conditions related to an issue) to the EBP at least two working days prior to the issue opening date. However, the issuer issuing the securities for the first time through ....

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....stor(s) and the corresponding quantum allocated, to the EBP, along with the Placement Memorandum and the term sheet. Such anchor investors shall provide electronic confirmation on the EBP platform of their participation by T-1 day. Amount not confirmed by any such investor shall be added back to the base issue size. 12.2. EBPs shall ensure that following details regarding the issuance is updated on its website by end of T-day for issues closing upto 1 p.m. on T-day and by 1 p.m. on T+1 day for the remaining issues. Bidding date / Date of Issuance Issuer Name ISIN Issue Description Type of Issuance (Type of Placement) Allotment date Face Value (in Rs. Lakhs) ....

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....ssuer shall ensure receipt of in-principle approval from the stock exchange(s) where it wishes to list its proposed debt issuance/ securities, prior to the date of providing the Placement Memorandum and term sheet to the EBP(s), in terms of paragraph 5.2 of Chapter VI of this Master Circular. Issuer shall ensure receipt of in-principle approval from the stock exchange(s) where it wishes to list its proposed debt issuance/ securities, prior to issue open date. 5. The provisions of this circular shall be made applicable from the date of this circular except for below mentioned clauses which shall be made applicable as per timelines mentioned below. Clause No. Effective date Clauses 5.2, 8.1.2, 8.1.4, 8.1.5 and 12.2 of Chapter V....

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....idder F 300 100 10:45:00 Bidder G 200 99.98 10:51:10 Bidder B 100 100.04 10:55:12 Depth Bidder Bid Amount (Rs Cr) Bid Price Cumulative Amount (Rs Cr) Bidder B 100 100.05 100 Bidder C 150 100.05 250 Bidder D 400 100.04 350 Bidder B 100 100.04 750 Bidder C 150 100.03 900 Bidder A 300 100 1200 Bidder F 300 100 1500 Bidder E 500 99.99 2000 Bidder G 200 99.98 2200 Cut-off price - 100 Uniform Yield Allotment - Proportionate allotment at Cut-off in Uniform Yield Allotment Allotment Bidder Bid Amount (Rs Cr) Bid Price Timestamp Allocation Amount (Rs Cr) Allotment price....