On 10 August 2026, the Department of Debt and Hybrid Securities of the Securities and Exchange Board of India released a consultation paper proposing, alongside an expansion of ISIN limits for privately placed debt, to dispense with the obligation on an issuer entering the listed debt market for the first time to also list its outstanding unlisted non-convertible debt securities issued on or after 1 January 2024.

The lower face value will enable the issuer company to get the necessary funding by exposing them to a larger market.

The proposal is a welcome step to empower non-institutional investors by reducing entry barriers and fostering a investor-friendly market.