SEBI relaxes rules for companies' 1st time listing of NCDs
Business
SEBI just made life simpler for companies wanting to list non-convertible debt securities (NCDs).
If you are listing NCDs for the first time, you no longer have to go back and list all your outstanding unlisted NCDs.
This update is meant to cut down on hassle and extra costs.
Only new NCD issuances require listing
Previously, companies had only three months to get outstanding unlisted NCDs issued on or after January 1, 2024, listed, which was a real headache for anyone new to the market.
Now you only need to list new issuances, which should make joining the debt market a lot smoother and encourage more participation.
SEBI says this move comes after public feedback and expert advice, hoping it will lead to more growth in bond listings.