SEBI publishes Issue Summary Document (ISD)

The SEBI vide circular dated February 15, 2023 has issued an Issue Summary Document (ISD) has been designed. It has been decided to introduce the ISD for the following, in XBRL (Extensible Business Reporting Language) format:
i. public issue of specified securities (initial public offer / further public offer);
ii. further issues {preferential issue, qualified institutions placement (Q
IP), rights issue, issue of American Depository Receipts (ADR), Global Depository Receipts
iii. buy-back of equity shares (through tender offer or from the open market);
iv. open offer under SEBI SAST Regulations;
v. voluntary delisting of equity shares where exit opportunity is required under SEBI Delisting Regulations.
ISD shall be filed in two stages:
i. In the first stage, ISD will be filed containing pre-issue / offer fields.
ii. In the second stage, ISD will be filed containing post-issue / offer fields after allotment/offer is completed / as applicable for respective ISD.
Stock Exchanges shall develop a utility in order to facilitate the filing of the ISD by Submitting Entity.

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