Guidelines on Framework for listing of Commercial Paper

Bombay Stock Exchange

LIST/COMP/46/2019-20

December 27, 2019

Dear Sir / Madam,

Subject: Guidelines on Framework for listing of Commercial Paper

This is with reference to SEBI Circular no. SEBI/HO/DDHS/DDHS/CIR/P/2019/115 dated October 22, 2019 and SEBI circular no. SEBI/HO/DDHS/DDHS/CIR/P/2019/167 dated December 24, 2019 regarding the Framework for listing of Commercial Paper and the Exchange notice no. 20191126-33 dated November 26, 2019 and Notice no. 20191224-23 dated December 24, 2019.

All market participants and issuers of Commercial Papers which intend to list their Commercial Papers with the Exchange shall be required to ensure following guidelines before the issuance of Commercial Paper.

1. The Issuers shall be required to upload Disclosure Document on the platform of the Exchange for dissemination to all Qualified Institutional Buyers (QIBs)

2. This Disclosure Document shall be as per Annexure I of SEBI circulars dated October 22, 2019 and December 24, 2019 containing all necessary details/disclosures, specifically mentioning that it is being placed or issued for “Issue of Commercial Paper intended to be listed”

3. Issuers must upload this Disclosure Document on the Exchange platform (BSE BOND platform) at least one day prior to the Deal Confirmation day

4. The Exchange would provide access to all Issuers of Commercial Paper on its BSE BOND platform for upload of Disclosure Document

5. Issuers shall ensure that these Commercial Papers issued with ‘Intention to List’ are listed with the Exchange within one day from the receipt of funds from the Investors. The issuers are required to ensure that the required documentation is submitted to the Exchange on or before 3.00 P.M.  on the value date/settlement date to ensure listing of the Commercial Paper as per the above-mentioned timelines.

Based on above guidelines, the following timelines for disclosures and listing shall be adhered by all Issuers of Commercial Papers intending to list Commercial Paper on the Exchange.

These guidelines shall be applicable for Commercial Paper issued on or after January 01, 2020, with an intention to list on the Exchange.

For any further clarifications/ feedback, Issuers may please contact the below mentioned Officials of the Exchange:

Bhushan Mokashi

Additional General Manager