Mumbai: As many as 64 companies will be delisted from BSE platform from Tuesday as they have remained suspended for more than 13 years, Asia’s oldest bourse said on Monday.
This is addition to 194 firms already being delisted by the exchange in August. The securities of these firms have been under suspension for more than 13 years on account of non-compliance of various clauses of listing regulations.
“64 companies that have remained suspended for more than 13 years would be delisted from the platform of the exchange,with effect from December 13 pursuant to order of Delisting Committee of the exchange in terms of Sebi (Delisting ofEquity Shares) Regulations,” BSE said in a circular.
These scrips will be moved to the dissemination board of the bourse for 5 years as directed by markets regulator Sebi. The companies include Ambuja Zinc, Asian Alloys, ElderTelecom, Hindustan Breweries & Bottling and Zenith Steel Tubesand Industries. BSE said promoters of these delisted firms will berequired to purchase the shares from the public shareholdersas per the fair value determined by the independent value
appointed by the exchange. Currently, 2,778 firms are traded on BSE.