Flock blog
Reading regulatory filings, sourced and dated.
Plain-English guides to the public filings Flock tracks: 13F reports, NSE and BSE shareholding patterns, bulk and block deals, and FII/DII flows. Every claim links to its source. Research, not advice.
Municipal debt securities vs NCD
Municipal debt securities vs NCD: two SEBI rulebooks, one backed by escrowed civic revenue and the other by a company's assets. What differs. Not advice.
How to read a municipal bond disclosure
How to read a municipal bond disclosure in India: the Schedule V periodic filings, escrow accounts, trustee duties and rating changes under SEBI's 2015 rules.
Public issue vs private placement of municipal bonds
Public issue vs private placement of municipal bonds: a 75% subscription floor and a SEBI-reviewed offer document, or 200 investors at Rs 10 lakh each.
What is a securitised debt instrument (SDI)?
What is a securitised debt instrument? An SDI is a note issued by a trust against a pool of loans or receivables, listed under SEBI's SDI Regulations. Not advice.
What is a special purpose distinct entity (SPDE)?
What is a special purpose distinct entity? The SPDE is the trust that buys a loan pool and issues securitised debt instruments under SEBI's rules. Not advice.
What is the minimum retention requirement (MRR)?
The minimum retention requirement makes an originator keep a slice of every pool it securitises: 10 percent, or 5 percent in defined cases. SEBI Reg 30B. Not advice.
What is the minimum holding period in securitisation?
The minimum holding period is how long an originator must hold a loan before securitising it: 3 months up to 2 years tenor, 6 months beyond. SEBI Reg 30C. Not advice.
What is a clean-up call option in securitisation?
A clean-up call lets an originator buy back the tail of a securitised pool once it shrinks to 10 percent or less. SEBI Regulation 30D, and its limits. Not advice.
How to read an SDI disclosure, field by field
How to read an SDI disclosure: the half-yearly securitised debt instrument format SEBI prescribed on 16 December 2025, head by head, with the traps. Not advice.
SDI Annexure I vs Annexure II: the two formats
SDI Annexure I vs Annexure II: SEBI prescribes two half-yearly securitisation disclosure formats, and they are not the same dataset. Field by field. Not advice.
Securitised debt instrument vs NCD: what differs
Securitised debt instrument vs NCD: one is a claim on a pool of loans held by a trust, the other a claim on a single company. Rules, rating, disclosure. Not advice.
MRR vs MHP: the two securitisation skin rules
Minimum retention requirement vs minimum holding period: one is how much of a pool the originator keeps, the other is how long it held the loans first. Not advice.
The Smart Money Digest
A free weekly email of notable disclosure activity — every line with its filing date and source link. No advice, just filings. Unsubscribe anytime.