Master Circular for Issue of Capital and Disclosure Requirements (ICDR)
The Securities and Exchange Board of India (SEBI) issued a Master Circular for Issue of Capital and Disclosure Requirements on 9 February 2026, consolidating all relevant circulars and amendments pertaining to the Issue of Capital and Disclosure Requirements Regulations as they stand currently. This master circular serves as a comprehensive compliance reference for issuers, merchant bankers, legal advisors and listed entities on disclosure norms, primary market obligations and capital-raising processes. It reflects the latest regulatory expectations for transparency and investor protection in public offerings and rights issues, ensuring that market participants have a single authoritative document outlining procedural and disclosure requirements.
