MASTER CIRCULAR1 — THE SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992

MASTER CIRCULAR1 SEBI/HO/DDHS/DDHS -PoD -1/P/CIR/2024/48 To , Issuers who have listed Non -and/ or Commercial Paper; 2 May 21, 2024 convertible Securities, Securitized Debt Instruments All Recognised Stock Exchanges Madam/ Sir, Sub: Master Circular for listing obligations and disclosure requirements for Nonconvertible Securities, Securitized Debt Instruments and/ or Commercial Paper Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( ' Listing Regulations ' ), prescribes the continuous disclosure requirements for issuers of listed Non-convertible Securities , Securitized Debt Instruments and Commercial Paper . In this regard, SEBI has been issuing various circulars from time to time. In order to enable the stakeholders to have an access to all the applicable circulars/ directions at one place, the provisions of the circulars issued till May 20, 2024 are incorporated in this Master Circular. This Master Circular shall come into force from the date of its issuance. The circulars mentioned at Annex -1 to this Master Circular shall stand superseded with the issuance of the Master Circular3 . With respect to the directions or other guidance issued by SEBI, as specifically applicable for Non-convertible Securities, Securitized Debt Instruments and/ or Commercial Paper, the same shall continue to remain in force in addition to the provisions of any other law for the time being in force. Terms not defined in this Master Circular shall have the same meaning as provided under the relevant Regulations. 1 Earlier called as 'Operational Circular'; renamed as 'Master Circular' from June 30, 2023 2 The provisions of Chapter VI of this Master Circular are applicable to all Listed Entities who have listed their equity and converti