SEBI/HO/DDHS/DDHS - PoD - 1/P/CIR/2024/142 — THE SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992

CIRCULAR SEBI/HO/DDHS/DDHS - PoD - 1/P/CIR/2024/142 October 18, 2024 To, Issuers who propose to list debt securities, non-convertible redeemable preference shares, municipal debt securities or securitised debt instruments; Recognised Stock Exchanges; Registered Merchant Bankers; Registered Stock Brokers; Depositories and Registered Depository Participants; Registered Bankers to an Issue; Registered Registrars to an Issue and Share Transfer Agents; and Self Certified Syndicate Banks (SCSBs) Madam/ Sir, Subject: Clarification with regard to usage of 3 – in – 1 type accounts for making an application in public issue of securities Para 2 of Chapter I (Application process in case of public issues of securities and timelines for listing) of the Master Circular no. SEBI/HO/DDHS/PoD1/P/CIR/2024/54 dated May 22, 2024, (hereinafter referred as 'Master Circular') issued by SEBI, prescribes provisions pertaining to application process in case of public issue of securities under SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021, SEBI (Issue and Listing of Municipal Debt Securities) Regulations, 2015 and SEBI (Issue and Listing of Securitised Debt Instruments and Security Receipts) Regulations, 2008. SEBI has received feedback that there is a need to explicitly specify the usage of 3in -1 type accounts for making an application in public issue of debt securities, nonconvertible redeemable preference shares, municipal debt securities and securitised debt instruments. Accordingly, it is clarified that, in addition to existing modes of making an application in public issue of securities as specified under para 2 of the aforesaid Master Circular and notwithstanding the provision specified under para 2 of SEBI circular SEBI/HO/DDHS/DDHS -PoD -1/P/CIR/2024/128 dated