Explain the conditions for Listing of Non-convertible Redeemable Preference Shares issued on private placement basis on a recognized stock exchange.

An issuer may list its non-convertible redeemable preference shares issued on private placement basis on a recognized stock exchange subject to the following conditions as provided under the SEBI (Issue & Listing of Non-Convertible Redeemable Preference Shares) Regulations, 2013: the issuer has issued such non-convertible redeemable preference shares in compliance with the provisions of the Companies Act, 2013 rules prescribed thereunder and other applicable laws; credit rating has been obtained in respect of such non-convertible redeemable preference shares from at least one credit rating agency registered with the SEBI. Where credit ratings are obtained from more than one credit rating agencies, all the ratings shall be disclosed in the offer document; the non-convertible redeemable preference shares proposed to be listed are in dematerialized form; the disclosures as provided in Regulation 18 of the SEBI (Non-Convertible Redeemable Preference Shares) Regulations, 2013 have been made; the minimum application size for each investor is not less than ten lakh rupees; the issuer shall create a capital redemption reserve in accordance with the provisions of the Companies Act, 2013; the issuer shall not issue non-convertible redeemable preference shares for providing loan to or acquisition of shares of any person who is part of the same group or who is under the same management, other than to subsidiaries of the issuer, and where the application is made to more than one recognised stock exchange, the issuer shall choose one of them as the designated stock exchange. The issuer shall comply with conditions of listing of such non-convertible redeemable preference shares as specified in the Listing Agreement with the stock exchange where such non-convertible redeemable preference shares are sought to be listed.