SEBI Mandates E-Book Mechanism for Private Debt Securities Over Rs 20 Crore

What is the new mandatory threshold for using the EBP platform for private placements? A: The new mandatory threshold for using the EBP platform for private placements is Rs 20 crore or more, including single, shelf, and subsequent issues within a financial year. Q: What types of securities are covered under the new EBP platform mandate? A: The new EBP platform mandate covers private placements of debt securities, non-convertible redeemable preference shares (NCRPS), and municipal bonds. Q: Can REITs and InvITs use the EBP platform for private placements? A: Yes, REITs and InvITs can now use the EBP platform for private placements of units of REITs, SM REITs, and InvITs. Q: What is the required disclosure for the green shoe option in the placement memorandum? A: The placement memorandum must disclose the base issue size and any green shoe option, which is capped at five times the base size. Past green shoe allocations must also be disclosed. Q: When do the new rules come into effect? A: The new rules come into effect immediately, with certain clauses related to anchor investors, disclosures, and reporting to be implemented three to six months from the circular’s date.

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