The Securities and Exchange Board of India (SEBI) has amended the simplified debt listing agreement for debt securities, reports CNBC-TV18.
Debt issuers would now have to maintain 100% asset cover. They would have to submit the certificate on maintenance of security and furnish a statement of deviations in the use of issue proceeds.
Issuers will also have to deposit 1% of the issue proceeds. Disclosure of financial statements would also have to be in line with equity listing.