Monday, 3 April 2017
LIST OF DELHI STOCK EXCHANGE LISTED COMPANIES SHIFFTED TO DESSIMINATION BOARD (I.E DASH BOARD)
DELHI STOCK EXCHANGE was one of the premier regional stock exchange of India. Delhi Stock Exchange was known as DSE was established/ incorporated in Year 1947. It was formed due to amalgamation of Delhi Stock and share Brokers Association Limited and Delhi Stock and Shares Exchange Limited. DSE had successfully completeddemutualization process with the minimum public holding of 51% in Year 2007-2008.
With SEBI (I.E Securities and Exchange Board of India) circular No. CIR/ MRD/ DSA/ 14/ 2012 dated 30th May, 2012 all the regional stock exchanges was closed down. All the Regional Stock Exchanges were provided an exit option to the de-recognised stock exchanges and recognised stock exchanges seeking voluntary surrender of recognition ("exiting RSEs") as per the SEBI order. Companies listed exclusively on exiting or de-recognised RSEs will be required to seek listing on atleast any other RSE that is not seeking de-recognition and exit in terms of the aforesaid SEBI Circular. As per the aforesaid SEBI Circular, companies failing to list on any other RSE, such companies will be treated as an unlisted company and shall be moved to Dissemination Board (DB) by such exiting or de-recognised RSE.
(Read full order of SEBI -http://www.sebi.gov.in/cms/sebi_data/boardmeeting/1422519656017-a.pdf)
SEBI has directed all exchanges that do not possess a trading platform with an annual turnover of at least ₹1,000 crore and a net worth of ₹100 crore, and that do not have a tie-up with a clearing corporation, to exit.Due to irregularities found in DSE demutualization process in 2008 and unable to meet the SEBI standard for operating as exchange DSE was shut down by SEBI in Year 2014.
(Read Full order on DSE - http://www.sebi.gov.in/cms/sebi_data/attachdocs/1416401316775.pdf)
Delhi Stock exchange had many valuable and noteworthy companies with strong financial background and management control, such as, Bajaj Electrocial Limited, Bharat Nidhi, Frick India ,Ashoka Marketing, AshokaViniyoga, Mohan Meaking, Modi Industries, PNB Finance and Industries, Jotindra Steel & Tubes, Yamuna Gases & Chemical, U.P Asbestos, IFCI Limited, Sportking India, The Delhi Flour Mills, John Oakey Mohan, AVN Tubes, Shriram Piston, Hindustan Urban Infra , etc.
Many of these DSE listed companies got listed on national wide stock exchanges i.eBSE(Bombay Stock Exchange), NSE(National Stock Exchange), Metropolitan Stock Exchange or Kolkata Stock Exchange. Many companies have also come out with buy back offer for their shareholders to provide them liquidity option.
Advantages of Shareholders: De-recognized/ regional/ dash board companies are more benifical source of investment since these companies have to be compulsorily come out with either buy back ie exit offer for investors or list themselves on recognized national level exchages.Thus Investors have a good opportunities to be the part of valuable stock on such exchanges and get a short term exit route.SEBI has been receiving representations seeking clarifications on raising of further capital and the process of exit of ELCs from the DB. Therefore, in the interest of the investors of such ELCs, it is decided to extend the time to submit the plan of action till June 30, 2017.
List of Delhi Stock Exchange Companies- http://www.dseindia.org.in/list_of_companies.pdf