Share Market: SEBI said that the validity period of GID will be one year. Thereafter, for private placement of non-convertible securities within the validity period, the securities issuers will have to file only one Key Information Document (KID) with the stock exchanges.
Share Market Tips: Market regulator SEBI has introduced the concept of general information and key information document by notifying rules to relieve institutions issuing debt securities from repeated submission of documents. The Securities and Exchange Board of India (SEBI) said in the notification that the General Information Document (GID) to be filed by the securities issuers shall contain the information and disclosures mentioned in the General Schedule.
Will include details of financial information
It has to be deposited with the stock exchanges at the time of issue of securities for the first time. SEBI said that the validity period of GID will be one year. Thereafter, for private placement of non-convertible securities within the validity period, the securities issuers will have to file only one Key Information Document (KID) with the stock exchanges. The KID will contain the details of the financial information.
According to SEBI, the concept of GID and KID will be initially implemented on the basis of ‘compliance or clarification’ till March 31, 2024. After that it will be made necessary. Through this notification, SEBI has tried to establish uniformity between the disclosures to be made in the draft for issue of debt securities or non-convertible preference shares. The changed rule has come into effect a day earlier. (Language)
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