The Securities and Exchange Board of India (“SEBI”) vide its Circular dated November 30, 2015 (“November Circular”), had prescribed formats for disclosure of holding of specified securities and shareholding pattern as required under Regulation 31 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
In order to provide further clarity and transparency in such disclosure to the investors in the securities market, SEBI vide Circular dated June 30, 2022 (“Circular”) has partially amended the November Circular as follows:
1. Clause 2(d) has been amended to provide that:
i) In the disclosure of public shareholding, names of the shareholders holding 1% (one percent) or more of the shares of the listed entity should be disclosed.
ii) Names of the shareholders who are persons acting in concert, if available, should be disclosed separately.
2. Revised Table III and Table IV which provide the formats for statement showing shareholding pattern of the public shareholders and of the non promoter – non public shareholders, respectively, have been provided.
3. Table VI has been inserted which provides the format for disclosure of details pertaining to foreign ownership limits.
The Circular will come into force with effect from the quarter ending September 30, 2022.
Please find a copy of the November Circular here, and the Circular here.
This update has been contributed by Aastha (Partner) and Arth Singhal (Associate).
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