Introduction of the Issue Summary Document (ISD)
Introduction of Issue Summary Document (ISD) and dissemination of issue advertisements- SEBI Circular
- In order to facilitate consumption of data by stakeholders such as researchers, policy makers, market analysts, and market participants, in respect of public issues, further issues, buyback, offers under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (“SEBI SAST Regulations”) and SEBI (Delisting of Equity Shares) Regulations, 2021(“SEBI Delisting Regulations”), etc., it has been decided to make available relevant information / data points at the Stock Exchanges and Depositories in a structured manner.
- Accordingly, after consultation with the stakeholders, an Issue Summary Document (ISD) has been designed. It has been decided to introduce the ISD for the following, in XBRL (Extensible Business Reporting Language) format:
i. public issue of specified securities (initial public offer / further public offer);
ii. further issues{preferential issue, qualified institutions placement (QIP), rights issue, issue of American Depository Receipts (ADR), Global Depository Receipts (GDR)and Foreign Currency Convertible Bonds (FCCBs)};
iii. buy-back of equity shares(through tender offer or from the open market);
iv. open offer under SEBI SAST Regulations;
v. voluntary delisting of equity shares where exit opportunity is required under SEBI Delisting Regulations.
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