Summary: BSE Notice No. 20261021-14 dated October 21, 2026 announces a Common Standard Operating Procedure (SOP) for processing further issue applications of companies listed on more than one stock exchange. Exchanges, in consultation with SEBI, have agreed to adopt a unified approach to achieve uniform, consistent, coordinated and expeditious approvals. The notice covers capital raising through preferential issues, rights issues, qualified institutions placements, foreign currency convertible bonds, depository receipts, employee share schemes, sweat equity, bonus issues and schemes of arrangement. Applications will be allocated between exchanges on an alternate basis solely for processing, with the allocated exchange acting as the “Lead Stock Exchange” and the other exchange acting as the “Recipient Stock Exchange”. Companies must continue submitting applications and requisite checklist documents simultaneously on the portals of all exchanges where their securities are listed; existing filing processes and timelines remain unchanged. Each exchange will independently review the complete checklist documents and coordinate with the company for checklist or relevant documents. The Recipient Stock Exchange will communicate its queries and concerns to the Lead Stock Exchange, which will raise them with the company. The company must submit its response only to the Lead Stock Exchange. Upon receiving satisfactory responses, the Lead Stock Exchange will coordinate with the Recipient Stock Exchange(s) to dispose of the application. Companies listed exclusively on one exchange will continue under the existing process. The SOP applies to all further issue applications submitted on or after November 01, 2026.
Bombay Stock Exchange
| Notice No. | 20261021-14 |
|---|---|
| Notice Date | 21 Oct 2026 |
| Category | Circulars Listed Companies |
| Segment | Equity |
| Department | Listing Operations |
| Subject | Common Standard Operating Procedure (SOP) for grant of approvals for further issues by Stock Exchanges |
| Attachments | No Attachment |
To,
All Listed Entities
Listed entities proposing to raise capital through Preferential Issues, Rights Issues, Qualified Institutions Placements, Foreign Currency Convertible Bonds, American Depository Receipts, Global Depository Receipts, Employee Stock Option Plans, Employee Stock Purchase Schemes (ESPS), Sweat Equity, Bonus, Schemes of Arrangement etc, shall submit applications to the respective recognised Stock Exchange(s) for the requisite approvals/No Objection letter for a scheme.
Further, currently, each Recognised Stock Exchange – follows its own procedures for processing applications relating to further issues of securities, although approval is given in coordination with other Exchanges
In order to achieve uniform, consistent, coordinated and expeditious approval process in the Commonly listed entities, Exchanges in consultation with SEBI have agreed to adopt a unified approach and issue a joint common (SOP).
For Commonly listed entities, Exchanges will be allocating the application(s) amongst themselves on an alternate basis, only for the processing purpose. The Exchange getting allocation of the application will be called as “The Lead Stock Exchange” for the purpose of that application. The other Stock Exchange (“Recipient Stock Exchange”) will share the queries/ concerns etc, observed in the submitted applications and other documents submitted by the Company, with the Lead Stock Exchange processing the further issue application Post which the Lead Stock Exchange will raise the queries /concerns with the listed entities for their response.
Below is the detail process of same:
- The listed entity shall simultaneously submit application(s) along with all the requisite checklist documents to the Exchange(s), on their respective portals wherein its securities are listed. There will be no change with respect to process and timelines for filing of application by the Company.
- Exchange(s) will co-ordinate with each other and assign Lead Stock Exchange status on an alternate basis, accordingly, the other Stock Exchange(s) will be considered as a Recipient Stock Exchange.
- The application will be allocated to Lead Stock Exchange and Lead Stock Exchange will inform the company about the same.
- Once the Company submits complete set of checklist documents as per the respective Exchange’s checklist, each Exchange shall be independently review the same. (Note – each Exchanges will be coordinating with Listed entities only for checklist /relevant documents)
- The Recipient Stock Exchange shall be sharing all queries/ concerns with the Lead Stock Exchange.
- Lead Stock Exchange shall be sharing the queries /concerns with the listed Company.
- The Company will be submitting the response only to the lead Exchange.
- The Lead Stock Exchange on receipt of satisfactory response shall coordinate with Recipient Stock Exchange(s) for disposing of the application.
It may be noted that the aforesaid mechanism for processing will be applicable only to the Companies that are listed on more than one Exchange. In case of Exclusively listed Companies, i.e., Companies listed on only one Exchange, there will be no changes in the process.
All listed entities are directed to take note of this notice/circular and ensure compliance.
The SOP shall be applicable to all Further issue applications submitted on or after November 01, 2026.
In case of any clarification, the entities are advised to adhere an email on [email protected]
Sd/-
Nitinkumar Pujari
Assistant Vice President
