Sebi streamlines process for public issue of debt securities
Sebi on Thursday decided to streamline the process for public issuance of debt securities to provide faster access to funds for such issuers. Under this, the Sebi's board has decided to reduce the period for seeking public comments on the draft offer documents from 7 working days to 1 day for issuers whose specified securities are already listed and 5 days for other issuers.
Further, the minimum subscription period has been cut from 3 to 2 working days, and the listing timeline has been reduced from T+6 to T+3 working days, which will be initially optional for one year and mandatory thereafter, Sebi chief Madhabi Puri Buch said in a press conference.
Also, Sebi has provided flexibility in advertising public issues through electronic modes, with QR codes/links in newspapers and harmonised application procedures using UPI for individual investors up to Rs 5 lakh while retaining other application modes.
«With a view to facilitate ease of doing business and provide flexibility to issuers, the Board has approved the proposal to streamline the public issue process for debt securities and non-convertible redeemable preference shares (NCRPS) to provide faster access of funds for issuers,» Sebi said.
Further, Sebi has simplified disclosure requirements for non-convertible securities in the offer documents. It has removed the requirement for PAN and personal address disclosure of promoters in offer documents.
The regulator clarified the key operational and financial parameters will be disclosed in line with financial
