SEBI on the listing of Commercial Paper by listed InvITs

Sep 22, 2022 | by TeamLease RegTech Legal Research Team

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Industry Specific ComplianceThe Securities and Exchange Board of India (SEBI) on September 22, 2022, issued a circular regarding the listing of Commercial Paper by listed InvITs. According to the Reserve Bank Commercial Paper Directions, 2017 dated August 10, 2022 InvIT having a net worth of INR  100 Crore or higher are eligible to issue commercial paper. 

It is stated that InvITs may issue listed commercial papers subject to the following:

o InvITs shall abide by the guidelines prescribed by the Reserve Bank of India for issuances of commercial papers. 

o InvITs shall abide by the conditions of listing norms prescribed by SEBI under SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 20,21, and circulars issued thereunder.

o The issuance of listed CPs shall be within the overall debt limit permitted under SEBI (Infrastructure Investment Trusts) Regulations, 2014

[Circular No. SEBI/HO/DDHS/DDHS_Div3/P/CIR/2022/ 123]


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