NSE Proposes XBRL-Based Filing for QIP Applications

The National Stock Exchange of India has issued a circular inviting comments on the proposed introduction of an XBRL-based framework for filing Qualified Institutional Placement (QIP) applications. Under the proposal, listed entities would transition from the existing application-based and PDF-driven filing system to exclusive XBRL filings for in-principle approval and post-allotment listing approval related to QIPs. The move is aligned with ongoing regulatory efforts under the SEBI framework to migrate disclosures from document-based formats to structured data reporting, with the objective of improving standardisation, consistency, and regulatory efficiency. The exchange noted that QIP-related disclosures are largely descriptive and compliance-driven, and therefore sought feedback on field-level additions or modifications in the proposed XBRL format. Listed entities have been invited to submit detailed comments and suggestions by 11 February 2026, after which the framework may be finalised for implementation.

National Stock Exchange of India

Department: LISTING

Circular Ref. No.: NSE/CML/2026/02 | Dated: February 03, 2026

To,
The Company Secretary,
All Listed Entities

Subject: Seeking of comments / feedback on the XBRL being introduced for filing Qualified Institutional Placements (“QIP”) applications with the Exchange.

1. OBJECTIVE:

The objective of this document is to seek comments / feedback on the proposed transition to an XBRL-based framework for filing QIP applications, in lieu of the existing filings which are made through an application-based system, wherein companies manually input the required information and upload documents in PDF format.

2. BACKGROUND:

Listed entities are required to seek approval from the Stock Exchange(s) for issuance of securities through “QIP” as laid down in SEBI LODR Regulations, 2015 and SEBI ICDR Regulation 2018 and various applicable relevant provisions, circulars, guidance note, etc. as amended from time to time. .

Accordingly, companies are required to submit applications for in-principle approval, post-allotment approval, and trading approval to the Stock Exchange(s).

Over a period of time, Stock Exchanges, in a phased manner, have undertaken initiatives to migrate filings made under the SEBI Act, Regulations and circulars from document-based formats to XBRL-based reporting, with an objective to standardize securities market data and enhance regulatory efficiency.

It has been deliberated that implementation of an XBRL-based filing mechanism for QIP applications covering “In-Principle approval and Post-Allotment Listing Approval” which would enable submission of standardised, consistent, and homogeneous compliance data to ease the filing process for listed entities as well as facilitate efficient data analysis and monitoring by the Stock Exchange.

Accordingly, in this regard, filing of QIP-related information would require listed entities to file the aforesaid applications in XBRL exclusively, formats of which are made available as Annexure A.

3. ISSUES AND DELIBERATIONS:

Please note that the details required are typically descriptive in nature and based on the SEBI Regulation or any other disclosure w.r.t. compliance of any SEBI Act, Regulation, Circular or provision. Accordingly, listed entities can provide their comments/ feedback/suggestions/observations pertaining to any additions/modifications in the fields of the attached format.

4. COMMENTS FROM LISTED ENTITIES:

Considering the implications of the XBRL filing by listed entities, comments in respect of the subject are solicited. Comments may be sent by email to DL-FI@nse.co.in in the following format latest by February 11, 2026.

While sending email, kindly mention the subject as “Comments / Feedback on the XBRL being introduced QIP applications with the Exchange.”

Enclosed is the draft format for the XBRL being introduced.

Yours faithfully,

For National Stock Exchange of India Limited

Dipti Chinchkhede
Senior Manager – Listing Approvals

Encl: Format for XBRL being introduced for QIP.