SEBI Amends LODR Rules, Simplifies Mandatory Listing Norms for Non-Convertible Debt Securities
The Securities and Exchange Board of India (SEBI) has notified the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Third Amendment) Regulations, 2026, on 12 October 2026. The amendment revises Regulation 62-A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which deals with the listing of non-convertible debt securities (NCDs). The amended provisions came into force on 14 October 2026.
Under the change, Regulation 62-A(1) has been substituted, while sub-regulations (2) and (3) have been omitted. The effect is that entities whose non-convertible debt securities are listed on or after the date of publication of the amendment must list all non-convertible debt securities issued after that initial listing.
Regulation 62-A sits within the disclosure and listing framework that applies to entities issuing listed non-convertible debt securities. By retaining a single substantive obligation and dropping the remaining provisions, the amendment streamlines the regulation.
The change matters for issuers of listed non-convertible debt securities, debt-listed companies, compliance officers, merchant bankers and market intermediaries. Listed debt issuers must ensure that all non-convertible debt securities issued after the initial listing are listed on the stock exchange.
According to SEBI, the omission of sub-regulations (2) and (3) simplifies the regulatory framework governing the mandatory listing of debt securities. Compliance monitoring may also become more straightforward because the listing requirement now rests in a single operative provision.
Source: SCC Times