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TMI BlogDisclosures to be made by NBFCs in the Offer Documents for public issue of Debt Securities under the SEBI (Issue and Listing of Debt Securities) Regulations, 2008.X X X X Extracts X X X X X X X X Extracts X X X X ..... dated June 17, 2014, interalia, prescribed additional disclosures to be provided for public issue of debt securities by NBFCs. 2. Based on the feedback from market participants on disclosures in offer document by NBFCs, after due deliberations, it has been decided to align the disclosures made in the offer documents to be in line with the stipulations as required by the Reserve Bank of India (RBI). 3. In line with the above, the following modifications are being made to the additional disclosures to be provided for public issue of debt securities by NBFCs, as mentioned in SEBI circular CIR/IMD/DF/12/2014 dated June 17, 2014 a) Point 4 (I)(d) (iv) of the Circular shall be modified as follows: Aggregated exposure to the top 20 bo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ve been made by NBFCs. ii. Quantum and percentage of secured vis- -vis unsecured borrowings made by NBFCs. iii. Any change in promoter s holdings in NBFCs during the last financial year beyond a particular threshold. At present, RBI has prescribed such a threshold level at 26%. The same threshold shall be applicable or as may be prescribed by RBI from time to time. 6. NBFCs may provide disclosures on the basis of the draft template, as far as possible, as provided in Annexure I of this Circular. 7. The provisions of this circular shall be applicable for the draft offer document for issuance of debt securities, issued by NBFCs, filed with the designated stock exchange on or after November 01, 2015. 8. This circular is issued i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d - MFI e - M SME f - Capital market funding (loans against shares, margin funding) g - Others 2 Wholesale a - Infrastructure b - Real estate (including builder loans) c - Promoter funding d - Any other sector (as applicable) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2 40-50% 3 50-60% 4 60-70% 5 70-80% 6 80-90% 7 90% Total *LTV at the time of origination e. Geographical classification of borrowers S. No Top 5 states Percentage of AUM 1 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... c - Vehicle finance d - MFI e - M SME f - Capital market funding (loans against shares, margin funding g - Others 2 Wholesale a - Infrastructure b - Real estate (including builder loans) c - Promoter funding d - Any other sector ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Foreign Currency liabilities 3. Others a. Lending policy : Should contain overview of origination, risk management, monitoring and collections b. Classification of loans/advances given to associates, entities/person relating to the board, senior management, promoters, others, etc.: As is being disclosed currently - Circular - Trade Notice - Public Notice - Instructions - Office orders Tax M ..... X X X X Extracts X X X X X X X X Extracts X X X X
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