SEBI Shortens Listing Timeline To T+3 Days For Debt Securities
SEBI now requires that the listing of these securities must occur within T+3 working days, instead of the previous T+6 working days.
The Securities and Exchange Board of India implemented a new listing timeline for debt securities on Thursday, including non-convertible debentures and non-convertible redeemable preference shares. SEBI now requires that the listing of these securities occur within T+3 working days instead of the previous T+6 working days.
The reduced timeline will initially be optional for one year and become mandatory thereafter, the market regulator said in a statement after the board meeting. This adjustment aims to expedite the listing process and provide quicker access to the market for investors and issuers.
SEBI has also amended the public comment period for draft offer documents. For issuers with already listed securities, the period has been shortened to one day, and for others, it is now five days. This change is expected to streamline the review process and facilitate quicker fundraising activities, SEBI said.
SEBI Allows Fixed Price Option For Voluntary Delisting, Changes Norms For Holding Companies
Reduction In Subscription Period
SEBI has reduced the minimum subscription period for public issues of debt securities and NCRPS from three working days to two working days.
Further, SEBI has allowed issuers to advertise public issues of debt securities electronically. The advertisement must include a window advertisement in newspapers with a QR code and a link to the full advertisement. This provides issuers with the flexibility to advertise in a cost-effective manner, it said.
These measures are part of SEBI’s effort to enhance the process of issuing and listing debt securities, ensuring more efficient access to capital markets.
