Consultation paper on proposal reforms under the Non-Convertible Securities Regulations


SEBI on Feb 09, 2023 has issued the consultation paper on proposal for introduction of the concept of General Information Document (GID) and Key Information Document (KID), mandatory listing of debt securities of listed issuers and other reforms under the NCS Regulations

The proposed framework shall be applicable for:

  1. Issues of non-convertible securities issued on private placement basis under Chapter IV and V of the NCS Regulations;
  2. Commercial Paper proposed to be listed under Chapter VI of the NCS Regulations.

An issuer making a private placement of non-convertible securities and seeking listing thereof on a Stock Exchange shall file a General Information Document and a Key information document along with other required documents with the Stock Exchanges at the time of making the first issuance.

The GID shall be valid for a period of one year, which shall commence from the date of opening of the first offer of non-convertible securities under that GID.

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