Listing of Commercial Paper and Certificates of Deposit on the recognised stock exchanges in the IFSC
International Financial Services Centre (IFSC) recently released a circular for facilitating listing of Commercial Paper (CP) and Certificates of Deposit (CD) on the recognised stock exchanges in the IFSC. This circular is in accordance with the provisions of the IFSCA (Listing) Regulations, 2024 which provides directions for eligibility of issuer, eligible investor, Listing application process, initial disclosures including General information, Risk Factors, Information about the issuer, Business description, Organisational structure, Management, Major / controlling shareholders, Audited Financial Statements, Details of borrowings of the company, Statutory auditor, Material outstanding litigations, Defaults, Terms relating to issue of CP, Use of proceeds, List of exchanges where the CP is listed or proposed to be listed, Details of credit rating (if obtained), CP borrowing limit along with supporting board resolution, Details of all CPs issued during the last 12 months, Details of credit support/ enhancement, continuous disclosure, buyback, other conditions such as depository, maturity, currency, discount etc.
