SECURITIES AND EXCHANGE BOARD OF INDIA
SECONDARY MARKET DEPARTMENT
Mittal Court, A Wing, Gr. Floor,
224, Nariman Point, Mumbai 400 021
SMDRP/POLICY /CIR-18/2000
April 27, 2000
To:
The President/Executive Director/ Managing Director,
All Stock Exchanges
Dear Sir,
Abolition of Standard Denomination for Equity Shares
Please refer to our circular no. SMDRP/POLICY/CIR-16/99 dated June 14, 1999 in this regard wherein it was mentioned that only companies whose shares are dematerialised shall be eligible to alter the ‘standard denomination’ of their equity shares.
In this connection, it is clarified that the companies which are already listed on one or more Stock Exchanges would be allowed to change the standard denomination of their equity shares only if they are in the compulsory demat list for all the investors announced by SEBI from time to time.
Yours faithfully,
P. K. BINDLISH
Division Chief
Secondary Markets, Depositories
Research & Publications Department
E-mail : pkb@sebi.gov.in
