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Corporate Laws Central Ministry of Finance Securities and Exchange Board of India Act, 1992

CDSL - Reiteration of SEBI Circular regarding Review of provisions pertaining to Electronic Book Provider (EBP) platform to increase its efficacy and utility

19-May-2025 | CDSL/OPS/DP/POLCY/2025/332

CDSL has reiterated the SEBI Circular regarding Review of provisions pertaining to Electronic Book Provider (EBP) platform to increase its efficacy and utility.

Key Highlights are as follows:
1. The EBP platform shall be applicable on the private placement of debt securities and NCRPS (Non-Convertible Redeemable Preference Shares) as per the provisions of SEBI (Non-Convertible Securities) Regulations, 2021 and municipal debt securities as per provisions of SEBI (Issue and Listing of Municipal Debt Securities) Regulations, 2015 if the specified conditions are complied with, which was earlier applicable only for private placement of debt securities and NCRPS (Clause 2.1 of Chapter VI of the Master Circular).
2. An issuer may, if desired, choose to access the EBP platform for the private placement of securitised debt instruments, security receipts, commercial papers (CPs), certificates of deposit (CDs), and units of REITs, SM REITs, and InvITs - provided the issuer is constituted as a REIT, SM REIT, or InvIT (Clause 3 Chapter VI of the Master Circular).
3. The Information Memorandum and term sheet shall be provided by the Issuer at least two working days prior to the issue opening date. However, the issuer issuing the securities for the first time through EBP platform shall provide the information memorandum and term sheet at least three working days prior to the issue to the opening date (Clause 5.2 Chapter VI of the Master Circular).

Kindly refer to the attached document for more information.

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