The Securities and Exchange Board of India (SEBI) on September 18, 2024, issued the Securities and Exchange Board of India (Issue and Listing of Non-Convertible Securities) (Second Amendment) Regulations, 2024 to further amend the Securities and Exchange Board of India (Issue and Listing of Non-Convertible Securities) Regulations, 2021.
The following amendments have been stated:
• In regulation 27,
o in sub-regulation (2), the words “seven working” shall be substituted with the words “five” and the symbol “.” shall be substituted with the symbol “:”; and
o after sub-regulation (2), the following shall be inserted, namely –
“Provided that issuers whose specified securities are listed on a recognised stock exchange having nationwide trading terminals shall post the draft offer document filed with stock exchange(s) for one day immediately after the date of filing the draft offer document with stock exchange(s).”
• In regulation 30,
o in sub-regulation (1), after the words “issuer shall make an advertisement”, the words “through electronic modes such as online newspapers or website of the issuer or the stock exchange, or” shall be inserted; and
o after sub-regulation (1), the following shall be inserted, namely –
“Provided that issuers opting to advertise the public issue through electronic modes shall publish a notice, in an English national daily and regional daily newspaper with wide circulation at the place where the registered office of the issuer is situated, exhibiting a QR Code and link to the complete advertisement.”
• In regulation 33A,
o in sub-regulation (1), the word “three” shall be substituted with the word “two”.
o in sub-regulation (2), the words “three working days” shall be substituted with the words “one working day”.
They shall come into force on September 18, 2024.
[Notification No. SEBI/LAD-NRO/GN/2024/205]
