SEBI amends Rules for Zero Coupon Zero Principle Instruments
On 28th December, 2023, Securities and Exchange Board of India (SEBI) modified the rules for public issuance of ‘zero coupon zero principle’ instruments by not-for-profit organisations (NPOs) and listing of such instruments on the Social Stock Exchange (SSE).
Modifications Made
Filing the Draft Fundraising Document
- An NPO, through the lead manager, is required to file the draft fundraising document with the SSE and an application seeking in-principle approval for listing the instrument on the SSE.
30 Days Time Limit
- The SSE will provide its observation on the draft fundraising document to the NPO within 30 days from the filing ....
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