The Securities and Exchange Board of India (“SEBI”) vide its circular bearing no. SEBI/HO/DDHS/DDHS-RACPOD1/P/CIR/2023/027 dated February 8, 2023 has issued clarifications with respect to issuance and listing of perpetual debt instruments, perpetual non-cumulative preference shares and similar instrument under Chapter V of the SEBI (Issue and Listing of Non-convertible Securities) Regulations, 2021 (“NCS Regulations”). The circular shall come into force with immediate effect. The following has been stated therein:
Please find a copy of the Circular, here.
This update has been contributed by Ankit Guha, Nidhi Arya (Partners), Vallishree Chandra (Principal Associate), Ayushi Jain and Shubhangi Gupta (Associates).
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