On 12 October 2026, the Securities and Exchange Board of India (SEBI) notified the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Third Amendment) Regulations, 2026. The amendment revises Regulation 62-A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, relating to the listing of non-convertible debt securities (NCDs).
The amended provisions came into force on 14 October 2026.
Key changes made by the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Third Amendment) Regulations, 2026:
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The amendment substitutes Regulation 62-A(1) and omits sub-regulations (2) and (3). As a result, entities whose non-convertible debt securities are listed on or after the date of publication of the amendment are required to list all non-convertible debt securities issued after such initial listing.
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Regulation 62-A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 forms part of the disclosure and listing framework applicable to entities issuing listed non-convertible debt securities. The amendment streamlines Regulation 62-A by retaining a single substantive obligation and omitting the remaining provisions.
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The amendment is particularly relevant for issuers of listed non-convertible debt securities, debt-listed companies, compliance officers, merchant bankers and market intermediaries.
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Listed debt issuers must ensure that all non-convertible debt securities issued after the initial listing are listed on the stock exchange.
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The omission of sub-regulations (2) and (3) simplifies the regulatory framework governing mandatory listing of debt securities.
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Compliance monitoring may become more straightforward due to the consolidation of the listing requirement into a single operative provision.
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[SEBI (Listing Obligations and Disclosure Requirements) (Third Amendment) Regulations, 2026, dated 14-10-2026]
