REDUCTION OF TIMELINE FOR LISTING OF DEBT SECURITIES AFTER THE CLOSURE OF THE ISSUE TO 6 WORKING DAYS AS AGAINST THE PRESENT REQUIREMENT OF 12 WORKING DAYS.
In order to make the existing process of issuance of debt securities, Non Convertible Redeemable Preference Shares, and SEBI (Public Offer & Listing of Debt Instruments) Regulations & SEBI ( Issue of and Listing of Securities by Municipalities ) Regulations easier, simpler and cost effective for both issuers and investors. SEBI vide its circular dated August 16, 2018 decided to reduce the time taken for listing after the closure of the issue to 6 working days as against the present requirement of 12 working days.
CLARIFICATION REGARDING CIRCULAR ISSUED WITH REGARD TO USE OF ELECTRONIC BOOK MECHANISMS IN ISSUANCE OF SECURITIES ON PRIVATE PLACEMENT BASIS
With a view to further rationalize and ease the process of issuance of securities on EBP platform and in consultation with the market participants .SEBI vide it’s circular SEBI/HO/DDHS/CIR/P/2018/122 dated August 16, 2018 which will come in to force w.e.f from October 01, 2018 provided the following additional facilities under electronic book mechanisms: Closed bidding, Multiple yield allotment, Multiple bids by an investor etc. For details refer the said circular.