SEBI vide circular dated December 19, 2022 has issued clarification on Enhanced guidelines for debenture trustees and Listed Issuer Companies on security creation and initial due diligence. It is clarified that a change in underlying security, creation of additional security or creation of security in case of unsecured debt securities would not constitute a change in the structure of the non-convertible debt securities, provided there are no other changes to the terms/ nature of issue of the non-convertible debt securities like maturity date, coupon rate, face value, redemption schedule, nature of the non-convertible debt securities(secured/unsecured) etc.

Accordingly, Depository shall not assign a new ISIN in such cases.

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