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SEBI Mandates Listing of Non-Convertible Debt Securities
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SEBI Mandates Listing of Non-Convertible Debt Securities

October 18, 2026

SEBI amends Regulation 62A to require listed entities to list subsequent issues of non-convertible debt securities, enhancing transparency and investor protection.

SEBI Mandates Listing of Non-Convertible Debt Securities

Effective from 2026, SEBI has amended Regulation 62A of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 via the Third Amendment Regulations, 2026, making it mandatory for specified listed entities to list subsequent issues of non-convertible debt securities (NCDs).

The amendment applies to public issues and private placements of NCDs by entities already listed on recognized stock exchanges. By mandating listing, SEBI aims to improve price discovery, enhance secondary market liquidity, and ensure uniform disclosure obligations for all debt instruments. The move aligns with global best practices in bond market regulation.

Entities affected include large corporates and infrastructure firms that frequently raise funds through private placements. The requirement is expected to reduce information asymmetry and strengthen market discipline in the corporate bond segment.

Citations

  • SEBI (ICDR) (Third Amendment) Regulations, 2026
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