This is in continuation to BSE’s notice no. 20210816-32, dated August 16, 2021, titled “Operational Guidelines for issuance of Securities on Private Placement basis through an Electronic Book Mechanism”. All market participants including Issuers, Arrangers, Investors, Custodians, etc are hereby requested to take note of the same.
In the updated BSEBOND Operational Guidelines as on May 23, 2022, the following is being clarified w.r.t minimum bid lot for STRPP structures and is being added under the head “Issue Initiation”, under sub-head “Minimum Bid lot & multiples of bids thereafter” of the main section Pre-Bid Procedure:
a. Minimum bid lot* shall be Rs. 10 Lakhs and in Multiple of Rs. 10 Lakhs thereafter
b. In Case of Non-Banking Finance Company (NBFC) and Housing Finance Company (HFC) the minimum bid* lot shall be Rs.1 Crore and bids thereafter in the Multiples of Rs.10 Lacs
c. In case of Issuance of PDIs, PNCPS, PCPS, RNCPS, and instruments of similar nature which are essentially non-equity regulatory instruments, forming part of a Bank’s or NBFC’s capital, issued as per RBI stipulations and listed under Chapter V of the SEBI NCS Regulations, 2021, minimum bid lot shall be Rs.1 Crore and in multiple of Rs. 1 Crore thereafter
* For STRPP Structure, the minimum bid lot size will be determined based on the cumulative value of STRPP issuance. In case of NBFC and HFC the lot size shall be to the nearest multiple of cumulative value of STRPP issuance such that the bid amount is not less than INR 1 crore. (STRPP - Separately Transferable Redeemable Principal Parts)
The updated operating guidelines is attached as per Annexure A.
For any further clarifications, Issuer(s)/ Arranger(s)/ QIB/Non-QIB investor(s) / Custodian(s) may contact following officials at the Exchange:
Bhushan Mokashi
General Manager
Listing Sales and Operations
May 23, 2022 |