TaxTMI 
TaxTMI 
Exemption from the requirement of mandatory merchant banker appointment for debt issued through private placement by certain listed issuers
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....anges; All Depositories All SEBI-Registered Merchant Bankers Sub: Exemption from the requirement of mandatory merchant banker appointment for debt issued through private placement by certain listed issuers 1. Clause 1.3 of Chapter V of SEBI Master Circular for issue and listing of Non-Convertible Securities, Securitised Debt Instruments, Security Receipts, Municipal Debt Securities and....
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....d obligations......" 2. Based on the feedback received from market participants, in order to enhance ease of issuing debt securities and to expand access of high-rated securities to retail investors, it has been decided to relax the requirement of merchant banker appointment, subject to certain conditions specified in the subsequent paras. 3. Accordingly, para 1.3 of the NCS Master Circular ....
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.... Exchange(s) for a period of at least one year and there are no pending fines or penalties levied by SEBI/ Stock Exchanges for non-compliance with any of the applicable provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 in respect of the issuer. Stock Exchange(s) shall confirm the above at the time of granting in-principle approval for the issue. iii. T....
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....above on the date of private placement. In case of multiple ratings, the lowest rating shall be considered for determining eligibility for exemption." 4. Stock exchange(s) shall specify suitable operational requirements such as disclosure formats/ submissions required to be made by the issuer to comply with the conditions specified above. 5. All other provisions of Chapter V of the NCS Maste....