SEBI has rewritten Regulation 62A(1) of the LODR Regulations. A listed entity whose non-convertible debt securities are listed on or after the Gazette publication date must list every such security it issues afterwards on the stock exchange(s). Sub-regulations (2) and (3) are deleted.
- Regulation 62A(1) is substituted with a new listing requirement for non-convertible debt securities
- Applies to listed entities whose non-convertible debt securities are listed on or after the date of Gazette publication
- Such an entity must list all its later issues of these securities on the stock exchange(s)
- Sub-regulations (2) and (3) of Regulation 62A are omitted
- In force from the date of publication in the Official Gazette, 14 October 2026
What changes
- Regulation 62A(1) is replaced by a new sub-regulation.
- Under it, a listed entity whose non-convertible debt securities are listed on or after the date of publication of these Regulations must list all non-convertible debt securities it issues after the date of that listing on the stock exchange(s).
- Regulation 62A(2) and Regulation 62A(3) are omitted.
Who it applies to
Listed entities that issue non-convertible debt securities (NCDs), such as debentures and bonds, and the directors, company secretaries and finance teams who manage those issues.
From when
- The notification is dated 12 October 2026 and was published in the Gazette on 14 October 2026.
- It came into force on the date of publication in the Official Gazette, 14 October 2026.
Background
Regulation 62A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 had three sub-regulations. This is the Third Amendment of 2026. The Regulations were last amended on 14 July 2026 by the Second Amendment. Check the consolidated Regulations for the earlier wording of Regulation 62A.
Effect in practice
- The new sub-regulation is tied to the date of listing. An entity whose NCDs are listed on or after 14 October 2026 must list its later NCD issues on the stock exchange(s).
- Issuers should check before each new NCD issue whether the entity falls under this requirement.
- With sub-regulations (2) and (3) omitted, Regulation 62A(1) is the only operative provision of the regulation.
| Provision | Before | Now | What it means |
|---|---|---|---|
| Regulation 62A(1) | Earlier wording: see the consolidated LODR Regulations, 2015 | A listed entity whose non-convertible debt securities are listed on or after the date of publication of the Third Amendment Regulations, 2026 shall list all those securities issued by it after the date of such listing on the stock exchange(s). | Entities that list NCDs on or after 14 October 2026 must list their later NCD issues on the stock exchange(s). |
| Regulation 62A(2) | Earlier wording: see the consolidated LODR Regulations, 2015 | Omitted | This sub-regulation no longer applies. |
| Regulation 62A(3) | Earlier wording: see the consolidated LODR Regulations, 2015 | Omitted | This sub-regulation no longer applies. |
In the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, ─ I. in regulation 62A, a. sub-regulation (1) shall be substituted with the following, namely, - “(1) A listed entity, whose non-convertible debt securities are listed on or after the date of the publication of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Third Amendment) Regulations, 2026, shall list all those non-convertible debt securities issued by it after the date of such listing, on the stock exchange(s).” b. sub-regulation (2) shall be omitted. c. sub-regulation (3) shall be omitted.
- Non-convertible debt securities
- Debentures or bonds that cannot be converted into shares.
- Listed entity
- A company or other entity whose securities are listed on a stock exchange.
- Official Gazette
- The Government's official publication; rules usually take effect from their publication in it.
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