Eligibility Criteria

The security proposed for listing on the Debt segment of NSE should comply with the requirements as indicated hereunder:

Issuer Eligibility Criteria for Listing
  Public Issue / Private Placement
  Non-Structured Product/Non-Market linked Debentures Structured Product/Market Linked Debentures
Corporates (Public limited companies and Private limited companies)
  • Paid-up capital of Rs.10 crores;
  • or
  • Market capitalisation of Rs.25 crores (In case of unlisted companies Networth more than Rs.25 crores)
  • Credit rating
  • Networth of 100 crores
  • Credit Rating prefix of ‘PP-MLD’ denoting Principal protected market linked debentures followed by the standardized rating symbols
Public Sector Undertaking, Statutory Corporation established/ constituted under Special Act of Parliament /State Legislature, Local bodies/authorities,
  • Credit rating
  • Qualifies for listing under the respective Acts, Rules or Regulations under which the securities are issued.
  • Networth of 100 crores
  • Credit Rating prefix of ‘PP-MLD’ denoting Principal protected market linked debentures followed by the standardized rating symbols
  • Qualifies for listing under the respective Acts, Rules or Regulations under which the securities are issued.
Mutual Funds: Units of any SEBI registered Mutual Fund/scheme : Investment objective to invest predominantly in debt or Scheme is traded in secondary market as debt instrument
  • Qualifies for listing under the respective Acts, Rules or Regulations under which the securities are issued.
  • Networth of 100 crores
  • Credit Rating prefix of ‘PP-MLD’ denoting Principal protected market linked debentures followed by the standardized rating symbols
  • Qualifies for listing under the respective Acts, Rules or Regulations under which the securities are issued.
Infrastructure companies : Tax exemption and recognition as infrastructure company under related statutes/regulations
  • Credit rating
  • Qualifies for listing under the respective Acts, Rules or Regulations under which the securities are issued.
  • Networth of 100 crores
  • Credit Rating prefix of ‘PP-MLD’ denoting Principal protected market linked debentures followed by the standardized rating symbols
  • Qualifies for listing under the respective Acts, Rules or Regulations under which the securities are issued.
Financial Institutions u/s. 4A of Companies Act, 1956 including Industrial Development Corporations
  • Qualifies for listing under the respective Acts, Rules or Regulations under which the securities are issued.
  • Credit rating
  • Networth of 100 crores

    Credit Rating prefix of ‘PP-MLD’ denoting Principal protected market linked debentures followed by the standardized rating symbols.

  • Qualifies for listing under the respective Acts, Rules or Regulations under which the securities are issued.
Banks
  • Scheduled banks
  • Networth of Rs.50 crores or above
  • Qualifies for listing under the respective Acts, Rules or Regulations under which the securities are issued.
  • Networth of 100 crores
  • Credit Rating prefix of ‘PP-MLD’ denoting Principal protected market linked debentures followed by the standardized rating symbols
  • Qualifies for listing under the respective Acts, Rules or Regulations under which the securities are issued.

An Issuer shall ensure compliance with SEBI circulars/guidelines and any other law, guidelines/directions of Central Government, other Statutory or local authority issued on regulating the listing of debt instruments from time to time.
 

Download SEBI circulars (.zip)

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