Monitoring listing norms of every company is a tough ask
15th July 2005: The delisting clause will now come into action if public holding in companies drops below the 25% mark. Nirma, Dabur, Jet Airways and Indian Oil Corporation are among the companies where non-promoter holdings were below the stipulated 25% as of March 31, ‘05. It couldn’t be known if any of them are exempted from the minimum public holding stipulations.

So far, the delisting norms of Sebi could be triggered only when the non-promoter holding breached the minimum 10% level of total equity. One of the options being debated is to scale up the norms, governing the delisting rules, to kick in at sub-25% public float level. This will remove the leeway for public listed companies.

The only exception to the 25% continuous listing norm is provided for TMT-sector (telecom, media and technology) companies. A government notification in ’01 allowed these companies to enter the stock markets with a public holding-level of only 10% of their total equity. The logic behind the move was to encourage the sunrise companies to access the capital markets to raise additional resources without having to dilute their promoter-holding substantially. In addition, certain companies in the public sector are exempted from the 25%-minimum public holding requirement. But, there are hardly any other companies in the private sector, which enjoy an exemption from the public float requirement.

There are no figures available on the additional scrips that will enter the markets with the new continuous listing norms. Experts said it will be difficult to peer into the specific listing agreements of each private sector company to find out if there are any exemptions provided from the rules.

National Stock Exchange of India Ltd. - Listing Circular
Download Ref no. NSE/CML/6379

Ref No NSE/LIST/C/2005/0272

Date: July 14, 2005


To all Members,

Sub: Listing of further issues


In pursuance of Regulation 3.1.1 of the National Stock Exchange (Capital Market) Trading Regulations Part A, it is hereby notified that the list of securities further admitted to dealings on the National Stock Exchange (Capital Market segment) with effect from July 15, 2005 the designated security codes thereof shall be as specified in Annexure.

In pursuance of Regulation 2.5.5 of the National Stock Exchange (Capital Market) Trading Regulations Part A, it is hereby notified that the respective lot sizes in respect of securities above shall be as specified in Annexure.

For the purpose of trading on the system, the security shall be identified only by its designated codes and trading in such securities shall be in such lot sizes as specified in Annexure.

This circular shall be effective from July 15, 2005.


For and on behalf of

National Stock Exchange of India Limited


Hari K.



  1. Trent Limited




Name of the company

Trent Limited

Security Description

Equity shares of Rs. 10/- each and Non Convertible Debenture of Rs. 500/- each allotted on conversion of Partly Convertible Debenture of Rs. 900/- each on rights basis in the ratio of 1:10.

Each Partly Convertible Debenture issued with detachable warrants.

Date of allotment

July 7, 2005






Equity shares

Non Convertible Debenture

Detachable Warrants





Face Value

Rs. 10/-

Rs. 500/-


Paid up value

Rs. 10/-

Rs. 500/-


No. of securities




Issue Price

Rs. 400/-

Rs. 500/-

Not Applicable

Distinctive numbers

From 13421415 To 14731461

From 1

To 1310047

From 1400001

 To 2710047

Date of Redemption / Conversion

Not Applicable

July 7, 2010

January 7, 2010


Redemption price

Not Applicable

Rs. 598/-

Not Applicable

Coupon Rate

Not Applicable

2 % per annum

Not Applicable

Interest payment date

Not Applicable

Interest payable annually on July 7, every year.

Not Applicable

Terms of Conversion

Not Applicable

Not Applicable

Converted into one Equity shares on payment of Rs. 650/- per share.*

Market lot


Pari Passu


Lock-in shares

Not Applicable


The Warrant holder will be entitle to exercise his right to apply for one Equity share of Rs. 10/- each at a premium of Rs. 640/- for each share payable in cash in full during the warrant exercise period which is a period of 30 days after the expiry of 54 months from the date of allotment.




Hanil Era Textiles gets listed on National Stock Exchange (NSE)
13th July 2005: Hanil Era Textiles Ltd has announced that it got listed on the NSE on July 11, 2005. The stock symbol at the NSE is HANILERA. The equity shares of the Company shall be traded in the Normal Market segment (Rolling Settlement) in compulsory demat for all investors. The market lot is of 1 share.

Speaking on this development, R K Agarwal Chairman of the Company said, "It is a matter of great pride to have the Company trading on the NSE again. We hope to reach out to a larger investor base, thereby providing better liquidity to the stock".

Post MFTA (Multi-Fibre Trade Agreement) regime, the Company has been capitalizing on the open market scenario. To effectively cater to an expanding global clientele and to offer better value addition, the Company embarked on a massive growth path. It laid down plans to forward integrate into weaving by setting up 108 looms whilst modernizing its spinning competence (80,000 spindles) and instituting processing and dyeing facilities at its plant in Patalganga. The modernization exercise is complete while the weaving and dyeing facilities should be ready by the end of August and September 2005 respectively. "We intend to add a small capacity to manufacture terry towels to complete our product portfolio under the home furnishing range" says R K Agarwal, Chairman.

The Company is scheduled to declare its audited full-year results (2004-05) on July 20, 2005.

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