In order to ensure updated public dissemination of shareholding pattern, the market regulator has mandated for companies to file revised shareholding pattern, if there is any change of over 2% in its shareholding
Market regulator Securities and Exchange Board of India (SEBI) has asked companies to file information if there is a change of 2% in the shareholding pattern, post a corporate event.
SEBI said in such cases, the companies would have to file revised shareholding pattern with the stock exchanges within 10 days from the date of such change in the capital structure.
The market regulator in its Board meeting also decided to make it mandatory for new companies to file their shareholding pattern as per Clause 35 one day prior to the date of listing and it should be uploaded on the website of exchanges before commencement of trading.
The Board further decided that in the quarterly shareholding pattern, the disclosure of shares held by custodians, against which depository receipts have been issued, shall be classified as 'promoter and promoter group' and 'non-promoter'.
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