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New listing, de-listing regulations next month: SEBI

Tags: SEBI, FICCI, U K Sinha, listing agreements, ITP

October 09, 2014 | COMMENTS ( 0 )

New listing, de-listing regulations next month: SEBI

The capital markets regulator SEBI on Wednesday said it will come out with new listing and delisting guidelines next month, revamping the existing listing agreements, and made it clear that corporations would have to adhere to it, as reported by PTI.

 

U K Sinha, Chairman, SEBI, in a capital market summit organised by FICCI in Mumbai, said, “We are moving away from the existing listing agreement to listing regulations. The listing agreement is an agreement with companies and exchanges. Now, it will have a force of regulations. There will be a hierarchy of regulations and will have higher force, then an agreement.”
 

Sinha also said the SEBI is close to finalising new delisting guidelines and will release them next month.

 

SEBI had earlier this year released a discussion paper on revamping the delisting agreements and to come out with listing/de-listing regulations, and had sought feedback on its proposals from various stakeholders.

 

“We are finalising new delisting guidelines as there are no trading in some stocks and promoters are finding difficult to delist the shares. We will announce guidelines under which delisting can happen in a fair way with investors’ protection,” he said.

 

The SEBI is working with Reserve Bank and the government for raising FII participation in government bonds and enhancing settlement pattern from T+1 to T+2.

 

The regulator is also working on a plan to allow small companies to use institutional trading platform (ITP) on stock exchanges to raise fresh capital.

 

At present, the ITP is used by SMEs and startups to list their shares without an initial public offering (IPO).

 

“We are going to make further changes in the SME platform to help more companies to raise money,” he added.

 

Speaking of the broader market environment, Sinha said, “Our growth numbers are remarkable. In the past one year alone, the markets returned about 30 per cent.”

 

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