Addendum to Circular No. CIR/MRD/DP/21/2012 on activation of ISIN in case of additional issue of shares/securities
Summary
This circular modifies previous regulations regarding the activation of ISIN for additional share issues. It mandates that depositories freeze new securities until final listing or trading approval is granted by the exchange. Stock exchanges are required to synchronize and communicate effective listing dates to depositories.
Text
In partial modification, the earlier point 3 and 5 of the aforesaid circular shall be replaced as under
the depositories shall devise a mechanism so that such new securities created shall be frozen till the time final listing/ trading permission is granted by the exchange
The stock exchanges are advised to provide the details to the depositories whenever final listing / trading permission is given to securities
in case of issuance of equity shares by a company, listed on multiple stock exchanges, the concerned stock exchanges shall synchronize their effective dates of listing / trading approvals and intimate the same to depositories in advance
make amendments to the relevant bye-laws, rules and regulations for the implementation of the above decision immediately
bring the provisions of this circular to the notice of their DPs and also to disseminate the same on their website
This circular is being issued in exercise of the powers conferred by Section 11 (1) of Securities and Exchange Board of India Act, 1992 and section 19 of the Depositories Act, 1996
Source: SecMarx — Addendum to Circular No. CIR/MRD/DP/21/2012 on activation of ISIN in case of additional issue of shares/securities. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.