Upgrades to SEBI Listing Regulations – Optimizing the current disclosure framework for debt listed issuers

On 12 December 2024, the Securities and Exchange Board of India (SEBI) issued the SEBI (Listing Obligations and Disclosure Requirements) (Third Amendment) Regulations, 2024 (Amendment Regulations) which have amended the SEBI (Listing Obligations and Disclosure Requirements), 2015 (SEBI LODR). The Amendment Regulations were framed pursuant to the proposals which were approved by SEBI in its board meeting held on 30 September 2024. The Amendment Regulations have brought about a host of amendments through which significant updates have been made to many key aspects of SEBI LODR involving updates in relation to high value debt listed entities, disclosures in relation to the outcome of board meetings, format for intimation, approval of financial results among others. In this ERGO, the Authors analyse the updates that impact debt financing for (equity and/or debt) listed entities.