Market regulator SEBI has stated that listed debt entities acquiring unlisted NCDs during corporate restructuring must adhere to listing requirements, even without issuing new debentures. Ananya Finance for Inclusive Growth sought clarity from SEBI after assuming liabilities of its subsidiary, Prayas Financial Services, including unlisted NCDs from 2024. SEBI emphasized that listing regulations apply regardless of new securities issuance in such cases.
SEBI highlighted that listed entities taking on obligations of unlisted NCDs issued post-January 1, 2024, must follow Regulation 62A. This regulation mandates listing all non-convertible debt securities issued after the specified date. The move aims to subject these securities to regulatory oversight and investor protection measures. SEBI stressed that even in cases of corporate restructuring, where liabilities of unlisted debentures transfer to listed entities, listing requirements must be met comprehensively.
