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JC - Legal Updates - SEBI to further deepen the corporate bond market by reducing the number of ISINs

Legal Updates

01 Nov 2022

SEBI to further deepen the corporate bond market by reducing the number of ISINs

Brief Overview:

In its attempt to enhance liquidity in the secondary market, the Securities and Exchange Board of India (“SEBI”) has further reduced the number of International Securities Identification Number (“ISINs”) that are issued for a privately placed listed debt issuance (“NCDs”) and maturing in a particular financial year.

Technical Details:

The summary of the changes is as below.

SEBI introduced this change vide its circular dated 31st October 2022. These revised limits shall become applicable to the issuance of NCDs occurring from 1st April 2023 and all the ISINs corresponding to the issuances including the ISINs issued prior to 1st April 2023.

For further details, please see:

SEBI | ISIN Provisions

For any queries / clarifications, please feel free to ping us and we will be happy to chat:

●  Ms. Apurva Kanvinde(apurva.kanvinde@jclex.com)

●  Mr. Smit Parekh (smit.parekh@jclex.com)