The National Stock Exchange of India Limited (NSE) on January 03, 2024, issued a circular regarding measures in respect of companies with high Promoter as well as non- Promoter 'Encumbrance' as per Reg. 28(3) of SEBI (SAST) Regulation 2011.
The following has been stated: -
•This is in continuation to Exchange circular no NSE/SURV/51189 dated January 31, 2022, on the captioned subject.
•Trading Members are requested to take note of the following:
1. The securities as given in Annexure I, have satisfied the criteria for inclusion under the aforesaid Measure and shall attract a minimum 75% margin in the Equity and Equity Derivatives segment w.e.f. January 08, 2024, on all open positions as of January 05, 2024, and new positions created from January 08, 2024.
2. The securities as given in Annexure II, are eligible to move out from the said framework effective from January 04, 2024.
3. A consolidated list of securities under the framework is given in Annexure III.
•Further, it may also be noted that the shortlisting of securities under this measure should not be construed as an adverse action against the concerned company/entity.
The detailed circular is given in the document attached below.
[Circular Ref. No: 11/2024]
