Sebi Streamlines Debt Securities Issuance for Faster Funding

Sebi has revised the process for public issuance of debt securities to enable faster fund access. Changes include reduced public comment period, subscription period, and listing timeline. Flexibility in advertising and simplified disclosure requirements are implemented. Guidelines for AIF borrowing and tenure extensions have also been updated.

In a move to expedite funding for issuers, the Securities and Exchange Board of India (Sebi) has streamlined the public issuance process for debt securities. The board has reduced the public comment period on draft offer documents and shortened the minimum subscription and listing timelines.

Sebi chairperson Madhabi Puri Buch announced that issuers whose specified securities are listed will now only have one day to seek public comments, down from seven. For other issuers, the period has been reduced to five days. Additionally, the minimum subscription period has been cut from three to two working days.

To further enhance flexibility for issuers, Sebi has introduced changes in advertising public issues, allowing electronic modes with QR codes and links. Disclosure requirements for non-convertible securities have also been simplified, and new guidelines for borrowing and tenure extensions for Category I and II AIFs have been established.

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