SEBI has amended SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021 by notification of SEBI (Issue and Listing of Non-Convertible Securities) (Third Amendment) Regulations, 2024 on December 11, 2024. The said amendment shall come into force effective from December 11, 2024.

 

A new clause (oa)  has been inserted after clause (o) in regulation 2, in sub regulation (1) in respect of  Environment, Social and Governance Debt Securities or “ESG Debt Securities”.  “ESG Debt Securities” has been defined as green debt securities, social bonds, sustainability bonds, sustainability-linked bonds, or any other type of bonds, by whatever name called, that are issued in accordance with such international frameworks as adapted or adjusted to suit Indian requirements that are specified by the SEBI(Board) from time to time, and any other securities as specified by the Board.

 

A new regulation 12A has also been inserted which stipulates that  an issuer desirous of issuing and listing of Environment, Social and Governance Debt Securities shall comply with such conditions as may be specified by the Board.

 

Regulation 26 has been omitted which dealt with ‘Issue of Green Debt Securities’

 

Besides the above, there have been amendments in Schedule I with regard to additional disclosure requirements for debenture trustees and that the documents as specified in  paragraph 3.3.32 be made accessible through a web-link or a static quick response code displayed in the issue document.