SEBI proposes increasing the maximum number of ISINs that can mature in a year for privately placed debt securities from 14 to 17. The move is intended to ease liquidity pressures and refinancing stress that some NBFCs and large corporates face, according to reports from multiple outlets.
Beyond the numeric increase, the proposals include exemptions for certain categories of debt. Economic Times and Business Line both describe a recommendation to exempt ESG-related debt securities from the ISIN limit. NDTV adds that ISINs linked to Government of India-serviced bonds, including those from Extra Budgetary Resources, would be excluded from the prescribed limits.
Some outlets also mention related regulatory adjustments aimed at improving market functioning, including suggestions to relax listing requirements for earlier unlisted debt offerings. While the scope of these additional changes is described broadly across coverage, the central, shared focus is the higher annual ISIN maturity cap and the carve-outs for specified debt classes.
