Sunday, December 15, 2013

SEBI says issuers can opt for shelf prospectus

The Securities and Exchange Board of India  (SEBI) plans to allow frequent issuers of non-convertible debentures with credit rating of AA and above to raise money using a shelf prospectus.
The issuers include public financial institutions, banks and issuers authorised by the Central Board
of Direct Taxes to issue tax-free bonds and RBI-regulated infra debt funds and NBFCs.Other NBFCs and listed companies with a credit rating of AA and above subject to minimum net worth of Rs 500 crore, besides distributed profit (three years for NBFCs and five for listed companies) with no default on deposit/interest payments also would be allowed.


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