(1) An issuer may list its debt securities issued on private placement basis on a recognized stock exchange subject to the following conditions:
(a) the issuer has issued such debt securities in compliance with the provisions of the Companies Act,1956, rules prescribed thereunder and other applicable laws;
(b) credit rating has been obtained in respect of such debt securities from at least one credit rating agency registered with the Board;
(c) the debt securities proposed to be listed are in dematerialized form ;
(d) the disclosures as provided in regulation 21 have been made.
13[(e) where the application is made to more than one recognized stock exchange, the issuer shall choose one of them as the designated stock exchange.]
(2) The issuer shall comply with conditions of listing of such debt securities as specified in the Listing Agreement with the stock exchange where such debt securities are sought to be listed.
14[(3) The designated stock exchange shall collect a regulatory fee as specified in Schedule V from the issuer at the time of listing of debt securities issued on private placement basis.]
15[Consolidation and re-issuance 12 Inserted by the SEBI(Issue and Listing of Debt Securities)(Amendment)Regulations, 2012 w.e.f. 12-10-12.
13 Inserted by the SEBI (Payment of Fees) (Amendment) Regulations, 2014 w.e.f. 23. 05.14 14 Inserted by the SEBI (Payment of Fees) (Amendment) Regulations, 2014 w.e.f. 23. 05.14 15 Inserted by the SEBI(Issue and Listing of Debt Securities) (Amendment) Regulations, 2015 w.e.f. 24-03-15.
20A. An issuer may carry out consolidation and re-issuance of its debt securities, 16[in the manner as may be specified by the Board from time to time] subject to the fulfillment of the following conditions:
a) 17[the articles of association of the issuer shall not have any provision, whether express or implied, contrary to such consolidation and re-issuance;]
b) the issue is through private placement;
c) the issuer has obtained fresh credit rating for each re-issuance from at least one credit rating agency registered with the Board and is disclosed;
d) such ratings shall be revalidated on a periodic basis and the change, if any, shall be disclosed;
e) appropriate disclosures are made with regard to consolidation and re-issuance in the Term Sheet.]
18[International Securities Identification Number.
20B. Any issuer issuing debt securities on private placement basis, shall comply with the conditions relating to the issue of International Securities Identification Number, as may be specified by the Board from time to time.]
Disclosures in respect of Private Placements of Debt Securities