The Securities and Exchange Board of India (SEBI) on September 20, 2023, published the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Fourth Amendment) Regulations, 2023 to further amend the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
This shall come into force on September 20, 2023
The following has been amended namely: -
• After regulation 62 which states” website” the following shall be inserted, namely: -
“62-A – “Listing of subsequent issuances of non-convertible debt securities
(1) A listed entity, whose non-convertible debt securities are listed shall list all non-convertible debt securities, proposed to be issued on or after January 01, 2024, on the stock exchanges
(2) A listed entity, whose subsequent issues of unlisted non-convertible debt securities made on or before December 31, 2023, are outstanding on the said date, may list such securities, on the stock exchanges
(3) A listed entity that proposes to list the non-convertible debt securities on the stock exchange(s) on or after January 1, 2024, shall list all outstanding unlisted non-convertible debt securities previously issued on or after January 1, 2024, on the stock exchanges within three months from the date of the listing of the non-convertible debt securities proposed to be listed.
(4) Notwithstanding anything contained in this regulation, no listed entity shall be required to list the following securities:
(i) Bonds issued under section 54EC of the Income Tax Act, 1961
(ii) Non-convertible debt securities issued pursuant to an agreement entered into between the listed entity of such securities and multilateral institutions;
(iii) Non-convertible debt securities issued pursuant to an order of any court or Tribunal or regulatory requirement as stipulated by a financial sector regulator namely, the Board, Reserve Bank of India, Insurance Regulatory and Development Authority of India or the Pension Fund and Regulatory Development Authority.
[Notification No. SEBI/LAD-NRO/GN/2023/151]
