Electronic book mechanism for issuance of securities on private placement basis – Clarifications

With a view to further rationalize and ease the process of issuance of securities on Electronic Book Provider (EBP) platform, SEBI vide circular dated August 16, 2018 has decided to provide for some additional facilities like Closed bidding in addition to the current system of open bidding, subject to the issuer disclosing the mode of bidding; Multiple yield allotment through which an issuer can choose either uniform yield or multiple yield allotment subject to disclosure. Further, Depositories can, in addition to Stock Exchanges, to act as EBP. These additional facilities shall be available from October 1, 2018.