According to the Securities and Exchange Board Of India Regulations, 2013, non-convertible redeemable preference share means a preference share which is redeemable in accordance with the provisions of the Companies Act, 1956, and does not include a preference share which is convertible into or exchangeable with equity shares of the issuer at a later date, with or without the option of the holder.
Who can issue non-convertible redeemable preference share?
Any public company, public sector undertaking or statutory corporation which makes or proposes to make an issue of non-convertible redeemable preference shares in accordance with SEBI (Issue And Listing Of Non-Convertible Redeemable Preference Shares) Regulations, 2013,or which has its securities listed on a recognisd stock exchange or which seeks to list its non-convertible redeemable preference shares on a recognised stock exchange
An issuer desirous of making an offer of NCRPS to the public shall make an application for listing to one or more Recognised sttock exchanges.
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