March 5, 2012
- Offer For Sale of Shares by Promoters through the Stock Exchange Mechanism: Sebi vide circular CIR/MRD/DP/ 7/2012 dated 23rd February, 2012 has modified Para 5(e)(ii) of the Circular No. CIR/MRD/DP/05/2012 dated February 1, 2012 on the Offer For Sale of Shares by Promoters through the Stock Exchange Mechanism. In this regard it has decided that indicative price shall be disclosed by the exchanges only during the last half an hour of the duration of the offer for sale.
- Standardized lot size for SME Exchange/Platform: Sebi vide circular CIR/MRD/DSA/06/2012 dated 21st February, 2012 has standardized the lot size for Initial Public Offer, proposing to list on SME exchange/platform and for the secondary market trading on stock exchange/platform. The Registrar to Issue in consultation with Merchant Banker/s, Issuer and the Stock Exchange shall ensure to finalize the basis of allotment in minimum lots and in multiples of minimum lot size, as per specified lot size.
- Investor Grievance Redressal Mechanism at Stock Exchanges: SEBI vide circular CIR/MIRSD/2/2012 dated 15th February, 2012, has with a view to increase investor confidence in the securities market and to make it more convenient for investors to file their grievances and arbitration cases near to their places has mandated NSE and BSE to set up Investor grievance redressal mechanism at Ahmedabad and Hyderabad by March 31, 2012 and at Kanpur and Indore by September 30, 2012 and also directed that NSE & BSE shall provide arbitration facility at the aforesaid four new centers by September 30, 2012.
- Guidelines in respect of the disclosures to be made in the Letter of offer in respect of Buy-back of securities in terms of SEBI (Buy-back of Securities) Regulations, 1998 and Format of Standard letter of offer: SEBI vide circular CIR/CFD/DCR/ 2 /2012 dated 9thFebruary, 2012 has revised the format of standard letter of offer. This revision has been made to make the format of Letter of Offer in line with the revised SEBI(Buy Back of Securities) (Amendment)Regulations, 2012.
- Amendments to the Equity Listing Agreement: SEBI vide circular CIR/CFD/DIL/1/2012 dated 8th February, 2012, has brought about certain amendments to the existing Clause 40A, 43 and 43A of the Equity Listing Agreement which shall come into force from the date of the circular.
- Securities And Exchange Board Of India (Buy-Back Of Securities) (Amendment) Regulations, 2012- Securities And Exchange Board Of India, vide its Notification No. Lad-NRO/GN/2011-12/36/3187 dated 7th February, 2012 has released Securities And Exchange Board Of India (Buy-Back Of Securities) (Amendment) Regulations, 2012 in place of Securities And Exchange Board Of India (Buy-Back Of Securities) Regulations, 1998.