India’s securities regulator SEBI has announced new rules that restrict the number of outstanding bonds maturing in a calendar year to only 17. This is aimed at forcing issuers to increase the outstanding notional of existing bonds in an effort to enhance their liquidity instead of issuing new bonds. The limit of 17 is further sub-divided into 12 vanilla bonds and 5 structured bonds.
Re tapping of bonds to increase their size is practiced Government bond market from time to time.
