SEBI/HO/ISD/ISD -PoD -2/P/CIR/2024/180

CIRCULAR SEBI/HO/ISD/ISD -PoD -2/P/CIR/2024/180 To All Recognized Stock Exchanges All Depositories All Listed Companies through the Stock Exchanges Sir/ Madam, Sub: Allowing subscription to the issue of NonConvertible Securities during trading window closure period. In terms of Clause 4(3)(b) of Schedule B read with sub-regulation (1) of Regulation 9 of SEBI (Prohibition of Insider Trading) Regulations, 2015 (PIT Regulations) the trading window restrictions shall not apply in respect of transactions , such as , acquisition by conversion of warrants or debentures, subscribing to rights issue, further public issue, preferential allotment or tendering of shares in a buy-back offer, open offer, delisting offer or such other transactions which are undertaken in accordance with the mechanisms as may be specified by the Board from time to time. In this regard, SEBI vide Circular No. SEBI/HO/ISD/ISD/CIR/P/2020/133 dated July 23, 2020 , provided that in addition to the transactions mentioned in Clause 4(3)(b) of Schedule B read with Regulation 9 of PIT Regulations, trading window restrictions shall not apply in respect of Offer for Sale and Rights Entitlements Transactions carried out in accordance with the framework specified by the Board from time to time. December 30 , 2024 It has been decided that in addition to the transactions mentioned in Clause 4(3)(b) of Schedule B read with sub -regulation (1) of Regulation 9 of PIT Regulations and SEBI Circular no. SEBI/HO/ISD/ISD/CIR/P/2020/133 dated July 23, 2020 , the trading window restrictions shall also not apply to subscription to the issue of nonconvertible securities, carried out in accordance with the framework specified by the Board from time to time. Stock Exchanges are advised to bring the provisions of this circular to t

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