Bonds Just Got Personal: Why Retail Investors Might Be the New VIPs in Public Debt Issues

Brief Overview:

A new proposal by SEBI to let public debt issuers to give higher interest rate / incentive to women, retail and other special categories of investors. But institutions? They’re not on the guest list for the special treatment.

Technical Details:

SEBI proposes to allow public debt issuers to offer tailored incentives such as higher coupon rates or discounted pricing to specific investor categories as compared to the current norms where the debt issuers are not permitted to offer any incentive to any class of investors. SEBI proposes this to enhance and boost the public bond market in the country.

Public comments are open until November 17, 2025, via SEBI’s consultation portal.

For further details, please see:

SEBI Consultation Paper – Permitting Debt Issuers to Offer Incentives

For any queries/clarifications, please feel free to ping us and we will be happy to chat:
Apurva Kanvinde, Smit Parekh & Devyansh Desai

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