26th February, 2018
NOTICE
Sub: Manner of achieving
minimum public shareholding
To all
Listed Companies
Attention of such aforesaid listed companies are drawn to SEBI Circular
Ref. No. SEBI/HO/CFD/CMD/CIR/P/43/2018
dated February 22, 2018 (copy available at CSE web-site at www.cse-india.com and SEBI web-site at www.sebi.com) wherein
As per point
number 1 of the aforesaid SEBI Circular “Please refer to Circular
No. CIR/CFD/CMD/14/2015 dated November 30, 2015 on the captioned subject, which
allowed for various methods that may be used by a listed entity to achieve
compliance with the minimum public shareholding requirements mandated under rules
19(2) (b) and 19A of the Securities Contracts (Regulation) Rules, 1957 (“the SCRR”) read with regulation
38 of the Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) Regulations, 2015.”
Further
in the said Circular it is also mentioned that with a view to further
facilitate listed entities to comply with the minimum public shareholding
requirements, the following additional methods are allowed:
a)
Open market sale
b)
Qualified Institutions
Placement
As per
this Circular, this Circular is issued in exercise of the powers conferred
under sections 11 and 11A of the Securities and Exchange Board of India Act,
1992 read with regulations 38 and 101(2) of the Securities and Exchange Board
of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
and shall supersede the Circular No. CIR/CFD/CMD/14/2015 dated November 30,
2015.
This is for information and necessary action.
CS
Chandrani Datta
Executive-Listing