Regulatory Alerts2023-07-07
Master Circular for Issue and Listing of Non-convertible Securities, Securitised Debt Instruments, Security Receipts, Municipal Debt Securities and Commercial Paper
The Securities and Exchange Board of India (SEBI) issued this Master Circular to consolidate and supersede multiple prior circulars, providing a single operational framework for the issue and listing of various debt instruments. The document details comprehensive procedural requirements for public issues, including the mandatory use of the ASBA mechanism and UPI for fund blocking, while outlining specific roles for stock exchanges, depositories, and sponsor banks. It further establishes standardized timelines, disclosure norms, and regulatory frameworks for intermediaries and issuers to ensure effective regulation of the corporate bond market.
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