MANU/SDEP/0007/2022

Ministry : Securities and Exchange Board of India

Department/Board : Department of Debt and Hybrid Securities

Circular No. : SEBI/HO/DDHS/P/CIR/2022/0028

Date : 08.03.2022

Notification/ Circulars Referred : Circular no. SEBI/HO/DDHS/P/CIR/2021/613 dated August 10, 2021 MANU/SDEP/0007/2021

Subject: Capital Market

Citing Reference:
Circular no. SEBI/HO/DDHS/P/CIR/2021/613 dated August 10, 2021 MANU/SDEP/0007/2021  Referred

To,

Issuers who have listed and/or propose to list Non-convertible Securities;
Recognised Stock Exchanges;
Registered Depositories;
Registered Credit Rating Agencies, Debenture Trustees, Depository Participants,
Stock Brokers, Merchant Bankers, Registrars to an Issue and Share Transfer
Agents, Bankers to an Issue;
Sponsor Banks;
Self-Certified Syndicate Banks; and
National Payments Corporation of India (NPCI)

Madam/Sir,

Revision to operational circular for issue and listing of Non-convertible Securities, Securitised Debt Instruments, Security Receipts, Municipal Debt Securities and Commercial Paper

1. Chapters I and II of the Operational Circular no. SEBI/HO/DDHS/P/CIR/2021/613 dated August 10, 2021, issued by SEBI, provides the procedures pertaining to issue and listing of Non-convertible Securities, Securitised Debt Instruments, Security Receipts, Municipal Debt Securities and Commercial Paper.

2. The said Circular, inter-alia, provides an option to investors to apply in public issues of debt securities with the facility to block funds through Unified Payments Interface (UPI) mechanism for application value upto Rs. 2 lakh.

3. NPCI vide circular reference no. NPCI/UPI/OC No. 127/2021-22 dated December 09, 2021, inter alia, has enhanced the per transaction limit in UPI from Rs. 2 lakh to Rs. 5 lakh for UPI based Application Supported by Blocked Amount (ASBA) Initial Public Offer (IPO).

4. In view of the abo........