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Exemption from the requirement of mandatory merchant banker appointment for Small-value debt through private placement by certain listed issuers
SEBI Proposes Exemption from Mandatory Merchant Banker Appointment for Small-Value Debt Private Placements
SEBI's August 27, 2026 consultation paper proposes exempting eligible listed issuers from the mandatory merchant banker requirement for Small-value debt (₹10,000 face value) issued via private placement, subject to four conditions. Public comments are open until September 17, 2026.
Exemption from the requirement of mandatory merchant banker appointment for Small-value debt through private placement by certain listed issuers
28 August 202613 min
‘Green-Channel: AIF Rollout Upon Document Acknowledgement’ (GARUDA) Mechanism for Processing of Placement Memorandum of Alternative Investment Funds (AIFs) filed with SEBI
MandatorySEBI Introduces GARUDA Green-Channel Mechanism for AIF Placement Memorandum Filing 2026
SEBI's July 30, 2026 circular rolls out the GARUDA mechanism, letting AIFs launch schemes without waiting for SEBI's PPM review — Regular schemes via Merchant Banker certification, AI only funds/LVFs/Angel Funds via self-certification. Effective immediately.
‘Green-Channel: AIF Rollout Upon Document Acknowledgement’ (GARUDA) Mechanism for Processing of Placement Memorandum of Alternative Investment Funds (AIFs) filed with SEBI
30 July 2026Eff. 30 July 202612 min
Operationalisation of freezing of holdings of promoter and promoter group including their associates (promoter holdings) at the ISIN level under Regulation 24(i)(ea) of the SEBI (Buy-back of Securities) Regulations, 2018 dated July 21, 2026
MandatorySEBI Mandates ISIN-Level Freeze of Promoter Holdings in Buy-Backs — Operationalisation Circular 2026
SEBI operationalises Reg 24(i)(ea) of Buy-back Regulations, mandating ISIN-level freeze of promoter holdings from resolution to offer closing. Depositories must ready the framework by Aug 1, 2026; cos, exchanges, merchant bankers, RTAs must comply.
Operationalisation of freezing of holdings of promoter and promoter group including their associates (promoter holdings) at the ISIN level under Regulation 24(i)(ea) of the SEBI (Buy-back of Securities) Regulations, 2018 dated July 21, 2026
22 July 2026Eff. 21 July 20268 min
Extension of timelines for compliance with certain provisions of Circular dated January 02, 2026
SEBI Extends Key Compliance Deadlines for Merchant Bankers on SBU, Net Worth and Liquid Net Worth (June 11, 2026)
SEBI’s June 11, 2026 circular gives merchant bankers more time to transfer activities into Separate Business Units and to meet phased net worth and liquid net worth thresholds, while also extending the deadline to intimate Category I/II status; all other January 2026 obligations stay unchanged.
Extension of timelines for compliance with certain provisions of Circular dated January 02, 2026
12 June 2026Eff. 11 June 202624 min
SEBI Circular HO/19/19/11(2)2026-AFD-RAC2
MandatorySEBI Fast-Track Mechanism for AIF PPM Filing 2026 — Complete Guide for AIFs and Merchant Bankers
SEBI has introduced a fast-track mechanism for processing PPMs of non-LVF AIF schemes effective April 30, 2026. AIFs can now launch schemes and circulate PPMs after just 30 days of filing — without SEBI's prior approval. Full responsibility shifts to Merchant Banker and AIF Manager.
SEBI Circular HO/19/19/11(2)2026-AFD-RAC2
3 May 2026Eff. 30 April 202617 min