Electronic book
mechanism for issuance of debt securities on private placement basis
SEBI Circular:
Circular No: CIR/IMD/DF1/48/2016 dated April 21,
2016
-
To
all the listed companies.
Crux of the Circular
-
SEBI
has issued this circular for the purpose of:
o streamlining the procedures related
to issuance of debit securities on private placement and
o enhancing transparency to discovery of prices through a
framework for issuance of debt securities on private placement basis through an
electronic book mechanism. This circular provides the detailed procedure in
this regard.
- adoption
of this electronic book mechanism is mandatory for all private placements of
debt securities in primary market with an issue size of Rs.500 crores and
above, inclusive of green shoe option, if any.
-
This
circular further provides the roles and responsibilities of the participants in
electronic book mechanism
Source:
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