SEBI, vide notification dated July 10, 2024, notified the SEBI (Listing Obligations and Disclosure Regulations) (Second Amendment) Regulations, 2024. Regulation 52(8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 mandates listed entities to publish its financial results in at least 1 (one) English national daily newspaper circulating in the whole or substantially whole of India, within 2 (two) working days of the meeting of the board of directors. The amendment adds a new proviso to this requirement which will now allow listed entities to publish only a window advertisement in the newspaper that refers to a Quick Response Code and the link of the website of the listed entity and stock exchange(s), where such financial results are available and capable of being accessed by the investors subject to the following conditions:
- for non-convertible securities outstanding as on the date of notification of this proviso, the listed entity has obtained the prior approval from the debenture trustee; and
- in case of any issuances after the date of notification of this proviso, the listed entity will either make a disclosure in the offer document regarding the window advertisement in the newspapers or obtain prior approval from the debenture trustee.
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