Discuss the various conditions required to be fulfilled for listing of Non-Convertible Redeemable Preference Shares.

As per regulation 17 of the SEBI (Issue and Listing of Non-Convertible Redeemable Preference Shares) Regulations, 2013, 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: 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 SEBI. It must be in dematerialized form. 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 disclosure as provided in regulation 18 of the SEBI NCRPS regulations have been made. The minimum application size for each investor is not less than ten lakh rupees; and The issue is in compliance with sub-regulation (3) and (4) of regulation 4. Where the application is made to more than one recognised stock exchange, the issuer shall choose one of them as the designated stock exchange.