Sebi goes green; debt security papers via electronic mode

NEW DELHI: Companies planning to raise funds through issuance of debt securities on private placement basis will have to file offer documents with markets regulator Sebi through electronic mode.

The move would come into force with immediate effect.

Currently, firms seeking to make an offer or invitation have to subscribe to securities through issue of a private placement offer letter in Form PAS-4.

Besides, companies maintain a complete record of private placement offers in Form PAS-5 and a copy of such record along with the private placement offer letter in Form PAS-4 is filed with the Registrar, the bourse on which the company is listed, along with Sebi within a period of 30 days of circulation of the private placement offer letter.

"As a green initiative, it has been decided that with immediate effect, Forms PAS-4 and PAS-5 shall be filed with Sebi in soft copy in PDF Format only, in a compact disc," Securities and Exchange Board of India (Sebi) said in a circular.