SEBI Reduces Face Value for Private Placement of Debt Securities/Non-Convertible Preference Shares to Rs 10,000
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- Last Updated on 5 July, 2024
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Circular No. SEBI/HO/DDHS/DDHS-PoD-1/P/CIR/2024/94, Dated: 03.07.2024
SEBI has reduced the face value for issuing debt security or non-convertible redeemable preference shares on a private placement basis from Rs 1 lakh to Rs 10,000, subject to certain conditions. The condition is that the issuer must appoint at least one merchant banker, and such debt security or non-convertible redeemable preference share must be an interest/dividend-bearing security paying coupon/dividend at regular intervals with a fixed maturity.
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