Mode of Issuance :

CP can be issued either in the form of a promissory note and held in physical form or in a dematerialised form through any of the depositories approved by and registered with SEBI. Provided all RBI regulated entities can deal in and hold CP only in dematerialised form through such depositories. CP will be issued at a discount to face value as may be determined by the issuer. No issuer shall have the issue of CP underwritten or coaccepted.