SEBI Exemption: Possession of UPSI & trading window closure no longer applicable for debt securities

The Securities and Exchange Board of India (SEBI), vide circular number SEBI/HO/ISD/ISD-PoD-2/P/CIR/2024/180 dated 30 December 2024 (Circular) relaxed the applicability of trading window restrictions prescribed under schedule B paragraph 4 of the SEBI (Prohibition on Insider Trading) Regulations, 2015 (PIT Regulations) in relation to subscription to non- convertible securities, as defined under Regulation 2(x) of the Securities and Exchange Board of India (Issue and Listing of Non-Convertible Securities) Regulations, 2021 (SEBI NCS Regulations), as amended.