The Securities and Exchange Board of India (Sebi) has allowed Goldstone Tele Services Ltd (GTSL), the company which was hived off more than nine months ago from its parent Goldstone Technologies, to be listed on stock exchanges other than the National Stock Exchange (NSE).

The bourses had kept the issue in abeyance after the NSE had refused listing to the company citing that the paid-up capital of the company was below minimum eligibility limit of Rs 10 crore. The paid-up capital of GTSL is Rs 4.33 crore.

While the shares were listed on the Hyderabad Stock Exchange (HSE) on Tuesday, they are expected to be listed on other bourses on November 12.

About 6,745 shares of GTSL were traded in 25 transactions on the HSE on Tuesday and the Rs 4 paid-up shares closed at Rs 7.20.

Meanwhile, the Sebi has asked GTSL to publish a statutory notification about the listing particulars and other details of the company such as promoters' history, existing businesses, financials etc before Monday.

On the exclusion by NSE, K Vasudeva Rao, executive director of GTSL, said: "We will take up the NSE listing separately by approaching a court, seeking its directive to the exchange to list the shares. The Sebi's directive is a relief for the investors of the company who are suffering from the stock illiquidity problem for a while now."

GTSL was hived off as a separate company from Goldstone Technologies early this year to create two different " pure-play companies " with the former functioning in the telecom space and the later in the IT services and products arena.

The shareholders of the Goldstone Technologies were issued one equity share of Rs 4 face value of GTSL, free of cost for every one share held.