SEBI reduces the timeline for listing of Non-convertible Securities, Securitised Debt Instruments, etc.
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- Last Updated on 2 December, 2022
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Circular No. SEBI/HO/DDHS/DDHS_Div1/P/CIR/2022/167, Dated 30.11.2022
The Operational Circular dated 10.08.2021, prescribes provisions pertaining to timelines for listing of Non-convertible Securities, Securitised Debt Instruments, Security Receipts and Municipal Debt Securities, issued on a private placement basis.
Now, in order to bring about clarity and standardization in the process of issuance and listing of such securities, on private placement basis, a list of the steps involved, pre-listing and post-listing, and relevant timelines have been detailed, both through Electronic Book Provider (EBP) platform and otherwise, the SEBI has reduced the timeline for listing from T+4 days to T+3 days (T refers to issue closure date).
Further, Recognized Stock Exchanges and Depositories are being directed to put in place necessary systems and infrastructure for implementation of this circular, monitor the compliance, etc. The provisions of this circular shall come into effect from January 1, 2023.
Click Here To Read The Full Circular
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