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SEBI made a public announcement mandating the use of Electronic book mechanism for issuance of debt securities

SEBI has made a public announcement mandating the use of Electronic book mechanism for issuance of debt securities on private placement basis. SEBI had issued a circular dated April 21, 2016 wherein the use of an Electronic Book Mechanism (EBM) had been made mandatory from July 01, 2016 for issuance of debt securities on private placement basis in the primary market with an issue size of Rs. 500 crores and above, inclusive of the green shoe option.

Pursuant to this, BSE and NSE have been granted approval by SEBI to act as an Electronic Book Provider (EBP). For issues, having issuance size below Rs. 500 crores, inclusive of green shoe option, if any, the issuer shall disclose the details to the Electronic Book Provider and/ or to the information repository for corporate debt market.

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