X

Jun 1, 2011

BSE-New Norms for Revocation & Direct Listing

Share on
 

BSE-New Norms for Revocation & Direct Listing

Bombay Stock Exchange (BSE) has changed the criterion for Direct Listing of companies listed on other stock exchanges as well as for Revocation of Suspension of companies.

The new Norms shall be effective from 1st July 2011.

The major salient Check levels for a Company seeking Direct Listing at BSE or seeking Revocation of Suspension from BSE are as under:
S.No. Particulars New Provisions
1. Issued and Paid Up Capital Minimum Rs. 10 Crores
OR

Net Worth

(excluding revaluation reserves)

 Minimum Rs. 50 Crores in 3 immediately preceding financial years
2.

Profit Making Track Record

(Extraordinary income shall not be considered for calculating distributable profits)

Distributable profits In terms of Sec. 205 of the Companies Act, 1956 for at least 3 out of 5 immediately preceding years based on audited financial results with the last financial year reporting profit
3.

Public Shareholding

As per SCRA, SCRR and Listing Agreement
4.

No. of Public Shareholders

Minimum 500
5.

Trading in Compulsory DEMAT

Minimum 50 % of the public shareholding to be in demat form

 Download

 

Request a Call
Scroll