SEBI Update – Ease of doing business and development of corporate bond markets – revision in the framework for fundraising by issuance of debt securities by large corporates (LCs)

The framework for fundraising by issuance of debt securities by LCs is revised 

This framework is applicable with effect from April 01, 2024, for LCs following April March as their financial year. This framework is applicable with effect from January 01, 2024, for LCs which follow January-December as their financial year.

The framework shall be applicable for all listed entities (except for Scheduled Commercial Banks), which as on the last day of the FY (i.e. March 31 or December 31)
 a) have their specified securities or debt securities or non-convertible redeemable preference shares listed on a recognised Stock Exchange(s) in terms of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (LODR Regulations); and 
b) have outstanding long-term borrowings of Rs.1000 crore or above

Link – https://www.sebi.gov.in/legal/circulars/oct-2023/ease-of-doing-business-and-development-of-corporate-bond-markets-revision-in-the-framework-for-fund-raising-by-issuance-of-debt-securities-by-large-corporates-lcs-_78237.html