SEBI issues circular for standardisation of industry classification
The Securities and Exchange Board of India (SEBI) has issued a circular for the standardisation of industry classification for the revision in chapter XIV of operational circular for issue and listing of non-convertible securities, securitised debt instruments, security receipts, municipal debt securities and commercial paper. The provisions of this circular shall be applicable to all issuances of debt securities, which open, on or after April 1, 2022.
In order to bring uniformity in the classifications being used across sectors as on date, the following amendments are being made to Chapter – XIV (Centralized Database for corporate bonds/ debentures) of the Operational Circular and annexures thereof :
● Paragraph 2.2 b) has been modified to insert the limitation of 30 days from the end of the financial year for submitting the information (as mentioned in Annex- XIV B) to stock exchanges.
● Clause 8. b) (Type of Issuer – Based on nature of business) of paragraph B. (Issuer/ instrument classification) of Annex – XIV – A shall be deleted.
● Clause 9 (Based on sector of business) of Annex-XIV-A shall be replaced with the table given in the Annex to this circular.