Proposed Amendment in Format of Shareholding Pattern by SEBI

Proposed Amendment in Format of Shareholding Pattern by SEBI

In addition to current provisions with regard to the format of the shareholding pattern and also its filing frequency, as per clause 35 of the listing agreement, following decisions have been taken by SEBI at its Board Meeting held on August 04, 2010:

·                     New companies coming with Initial Public Offers shall file the shareholding pattern one day prior to the date of listing, which is to be uploaded on website of exchanges before the commencement of trading.

·                     The companies shall file revised shareholding pattern with the stock exchanges within 10 days from the date of any change in the capital structure, which exceeds +/- 2% of the paid up share capital of the company post a corporate event.

·                     In contrast to the existing provisions/ format,  wherein the custodians are classified as separate category other than promoters and non promoters in shareholding pattern, the Board has decided to include the disclosure of shares held by the custodians, against which depository receipts have been issued to  be classified as 'promoter/promoter group' and 'non-promoter' in the quarterly shareholding pattern.

Also find attached herewith press release issued by SEBI.

Regards