SEBI (Issue and Listing of Non-Convertible Redeemable Preference Shares) Regulations, 2013 have been notified on June 12, 2013 vide Notification No. LAD-NRO/GN/2013-14/11/6063.
The said Regulations provide for a comprehensive regulatory framework for public issuance of non-convertible redeemable preference shares and also for listing of privately placed redeemable preference shares. Further, as per Basel III norms, Banks can issue non-equity instruments such as Perpetual Non-Cumulative Preference Shares and Innovative Perpetual Debt Instruments, which are in compliance with the criteria specified by RBI for inclusion in Additional Tier I Capital. The Regulations shall also be applicable to such instruments issued by banks.
Download SEBI (Issue and Listing of Non-Convertible Redeemable Preference Shares) Regulations, 2013
