The Securities and Exchange Board of India (Sebi) has proposed to permit companies to issue non-convertible debentures (NCDs) and non-convertible redeemable preference shares (NCRPS) with the face value of Rs. 10,000 as against the current system of Rs one lakh face value.
According to a Sebi consultation paper, the measure is aimed at enhancing participation of the non-institutional investors in the corporate bond market coupled with mitigation and management of risk to safeguard and protect the interest of such non-institutional investors.
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SEBI proposes slashing NCD face value from Rs one lakh to Rs 10,000
