The Securities Exchange Board of India (SEBI) on September 26, 2024, issued a consultation paper on the proposal to exempt certain transactions from trading window restrictions.
The following has been stated namely: -
• It is proposed to exempt transactions like subscribing to Non-Convertible Debentures from trading window restrictions, as they are regulated and aligned with the guiding principles under the SEBI NCS Regulation.
• NCS also includes “non-convertible redeemable preference shares, perpetual non-cumulative preference shares, perpetual debt instruments and any other securities as specified by the Board”, under the NCS Regulations.
• It states that Perpetual non-cumulative preference shares and perpetual debt instruments shall comply with RBI guidelines and meet the listing conditions under the NCS Regulations and SEBI's Listing Obligations and Disclosure Requirements, including necessary disclosures.
Refer to the attached document for detailed notification.
The comments/ suggestions may be submitted by October 17, 2024, through online mode at the link – click here.
