{"id":276311,"date":"2022-10-29T12:30:45","date_gmt":"2022-10-29T07:00:45","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=276311"},"modified":"2022-10-29T12:30:45","modified_gmt":"2022-10-29T07:00:45","slug":"sebi-circular-reductionindenomination-debtsecurities-nonconvertible-redeemable-preferenceshares-securitiesandexchangeboardofindia-legal-news-update-research","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2022\/10\/29\/sebi-circular-reductionindenomination-debtsecurities-nonconvertible-redeemable-preferenceshares-securitiesandexchangeboardofindia-legal-news-update-research\/","title":{"rendered":"SEBI issues circular reducing denomination of debt securities and non- convertible redeemable preference shares to Rs. 1 Lakh"},"content":{"rendered":"<div style=\"text-align: justify; line-height: 150%;\">\n<p style=\"text-indent: 18pt;\">&#160; &#160;<\/p>\n<p style=\"text-indent: 18pt; margin-bottom: 3%;\">On 28-10-2022, the Securities and Exchange Board of India (&#8216;SEBI&#8217;) has issued a circular on reduction in denomination for debt securities and non- convertible redeemable preference shares to protect the interest of investors in securities and to promote the development of, and to regulate the securities market. The provisions of this circular are applicable on all issues on or after 1-01-2023.<\/p>\n<p><span style=\"font-weight: bold;\">Key Points:<\/span><\/p>\n<ol>\n<li>\n<p>In an Operational Circular dated 10-08-2021, SEBI mandated that the face value of such shares issued on a placement basis should be Rs. 10 Lakh and the trading lot should be equal to the face value.<\/p>\n<\/li>\n<li>\n<p>After receiving representations regarding reduction of the face value and trading lot so that more investors can participate which will enhance the liquidity in the corporate bond market, SEBI made amendments to Chapter V of the Operational Circular.<\/p>\n<\/li>\n<li>\n<p>Face value of each is reduced to Rs 1 Lakh for both:<\/p>\n<ol style=\"list-style-type: lower-alpha;\">\n<li>\n<p>debt security or non-convertible redeemable preference share issued on private placement,<\/p>\n<\/li>\n<li>\n<p>listed debt security and non-convertible redeemable preference share issued on private placement basis traded on a stock exchange or OTC basis.<\/p>\n<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<hr\/>\n<p style=\"text-indent: 18pt;\"><strong><span style=\"color: #000080;\">*Kriti Kumar, Editorial Assistant has reported this brief.<\/span><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>&#160; &#160; On 28-10-2022, the Securities and Exchange Board of India (&#8216;SEBI&#8217;) has issued a circular on reduction in denomination for debt <\/p>\n","protected":false},"author":67011,"featured_media":264666,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,1193],"tags":[35845,52604,52605,2563],"class_list":["post-276311","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislationupdates","category-notifications","tag-circular","tag-debt-security","tag-denomination-reduction","tag-SEBI"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SEBI issues circular reducing denomination of debt securities and non- convertible redeemable preference shares to Rs. 1 Lakh | SCC Times<\/title>\n<meta name=\"description\" content=\"On 28-10-2022, the Securities and Exchange Board of India (\u2018SEBI\u2019) has issued a circular on reduction in 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Applicability: all public issues opening on\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"SEBI","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/sebi.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/sebi.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/sebi.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/sebi.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":252506,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/08\/10\/merger-of-sebi-issue-and-listing-of-debt-securities-regulations-2008-and-sebi-issue-and-listing-of-non-convertible-redeemable-preference-shares-regulations-2013-into-sebi-issue-and-listing-of-n\/","url_meta":{"origin":276311,"position":4},"title":"Merger of SEBI (Issue and listing of Debt Securities) Regulations, 2008 and SEBI (Issue and Listing of Non-Convertible Redeemable Preference Shares) Regulations, 2013 into SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021","author":"Prachi Bhardwaj","date":"August 10, 2021","format":false,"excerpt":"The Securities and Exchange Board of India has notified SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021 on August 9, 2021. The Regulation merges SEBI (Issue & Listing of Debt Securities) Regulations, 2008 (ILDS Regulations) and SEBI (Issue & Listing of Non-Convertible Redeemable Preference Shares) Regulations, 2013 (NCRPS Regulations).\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-135.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-135.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-135.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-135.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-135.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":283582,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/02\/10\/sebi-clarified-on-issuance-and-listing-of-perpetual-debt-instruments-perpetual-non-cumulative-preference-shares-and-similar-instruments-under-chapter-v-of-sebi-issue-and-listing-of-non-convertible-sec\/","url_meta":{"origin":276311,"position":5},"title":"SEBI issues list of securities which need to comply with provisions of Chapter of NCS Regulations, 2021","author":"Editor","date":"February 10, 2023","format":false,"excerpt":"On 8-2-2023, the Securities and Exchange Board of India (\u2018SEBI\u2019) clarified on the issuance and listing of perpetual debt instruments, perpetual non-cumulative preference shares and similar instruments under Chapter V of the SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021 (\u2018NCS\u2019). This circular came into effect on 8-2-2023. Key\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"SEBI","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/11\/MicrosoftTeams-image44.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/276311","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/67011"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=276311"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/276311\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/264666"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=276311"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=276311"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=276311"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}