Sebi amends rules to streamline process for public issuance of debt securities

Markets regulator Sebi has amended rules to streamline process for public issuance of debt securities aimed at providing faster access to funds for such issuers.

Under amended rules, Sebi has reduced period for seeking public comments on draft offer documents from 7 working days to 1 day for issuers whose specified securities are alrey listed and 5 days for or issuers.

" issuers whose specified securities are listed on a recognised stock exchange having nationwide tring terminals shall post draft offer document filed with stock exchange(s) for one day immediately after date of filing draft offer document with stock exchange(s)," regulator said in a tification.

Also, minimum subscription period has been cut from 3 to 2 working days. Furr, in case of revision in price band or yield, bidding period disclosed in offer documents, can be extended by one working day inste of three working days.

new rules are aimed at facilitating ease of doing business and providing flexibility to issuers.

ditionally, Sebi has provided flexibility to issuers by providing discretion to m with regard to vertisement of public issues through electronic modes subject to a window vertisement (containing a QR Code and Link to full vertisement) in newspapers.

Furr, Sebi has simplified disclosure requirements for n-convertible securities in offer documents. It has removed requirement for PAN and personal dress disclosure of promoters in offer documents.

regulator clarified key operational and financial parameters will be disclosed in line with financial information requirements.

To give this effect, Sebi's issue and listing of n-convertible securities rules have been amended on September 17 that became effective from same day.