Prepare a flow chart for issuance of Non-convertible Redeemable Preference Shares under SEBI (Non-convertible Redeemable Preference Shares) Regulations, 2013.

Flow Chart for Issuance of Non-Convertible Redeemable Preference Shares under the SEBI (Non-Convertible Redeemable Preference Shares) Regulations, 2013 is as under: File an application to one or more stock exchanges for listing of non-convertible redeemable preference shares and obtain in-principle approval. Obtain Credit Rating including the unaccepted ratings obtained from more than one credit rating agencies shall be disclosed in the offer document. Enter into an agreement with a depository for dematerialization of the non-convertible redeemable preference shares in accordance with the Depositories Act, 1996 and regulations made there under. Appoint one or more Merchant banker and lead merchant bankers and create capital redemption account under Companies Act, 2013. Draft & Final offer document shall be displayed on websites of stock exchange and shall be available for download in PDF/HTML formats. Make an advertisement in one English national daily newspaper and one Hindi national daily newspaper with wide circulation on or before the issue opening date. Issuer shall decide the price and amount of Minimum subscription of non-convertible redeemable preference shares in consultation with the lead merchant banker and disclose the same in the offer document. In case of Non-receipt of minimum subscription, all application monies received in the public issue shall be refunded forthwith to the applicants. In the event, the application monies are refunded beyond 8 days, then such amounts shall be refunded together with interest at such rate which shall not be less than 15% per annum.