The Securities and Exchange Board of India (Sebi) is trying to find middle ground on valuing so-called perpetual bonds in a bid to assuage the concerns raised by the finance ministry and mutual fund (MF) houses, said people in the know. The regulator is not in favour of withdrawing the proposed rules because it is of the view that tighter norms for valuing these bonds are required to protect MF investors.
However, Sebi could tweak various clauses in the circular ahead of the implementation date of April 1, 2021. Among the alternatives being discussed are reducing the maturity ...