Guidelines on issuance of non-convertible debt instruments along with warrants (‘NCDs with Warrants’) in terms of Chapter VI – Qualified Institutions Placement of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.

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..... ll Recognized Depositories Issuer Companies Merchant Bankers and Brokers registered with SEBI Dear Sir / Madam, Sub: Guidelines on issuance of non-convertible debt instruments along with warrants ('NCDs with Warrants') in terms of Chapter VI - Qualified Institutions Placement of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. 1. Chapter VI of SEBI (Issue of Capital and .....

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..... onvertible Securities) Regulations, 2021, governs issue and listing of non-convertible securities, on a recognized stock exchange and provides for Electronic Book Provider platform (EBP platform), offering efficient and transparent price discovery mechanism. 4. In this regard stakeholders were consulted through a SEBI consultation paper regarding 'NCDs with Warrants' as a product and on applicabi .....

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..... ions Placement under ICDR Regulations, 2018. 5.3. Of the 'total issue size' of the issue, at least 40% size shall consist of 'Warrants portion'. It may be noted that 'total issue size' shall mean combined size of NCDs issue and the aggregate size of the warrants portion, including the conversion price of warrants. 5.4. The segregated offer of NCDs and stapled offer, both shall be exempted from .....

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