BSE places 19 cos in dissemination board from today

BSE has placed 19 companies, listed on Guwahati Stock Exchange and OTC Exchange of India that are going to exit the business, on a separate platform to disseminate information about these firms among investors.
The 19 companies have been placed on the BSE's Dissemination Board. This would enable buyers and sellers of securities of these companies to disseminate their bids/offers using the services of trading members at BSE.
BSE Dissemination Board is an information disseminating mechanism for buyers and sellers of companies, that are listed exclusively on exiting or de-recognised Regional Stock Exchanges (RSEs) and have failed to obtain listing on other functional RSE.

In two separate notices, BSE said it is placing 14 companies listed on Gauhati Stock Exchange and five firms listed on OTC Exchange to the Dissemination Board (DB).
Some of firms on Gauhati Stock Exchange which have been made available on the board from today are -- Delta Impex, AMP Industries, Sudarshan Entrade, Carbon Specialities, Assam Carbon Products, India Carbon, Awantika Impex.
Central Cables, JRD Finance, Lalji Manekji Industries, Lunkad Aluminium Ltd and Renewable Energy Systems are firms listed on OTC Exchange that have been placed on BSE DB.

Last week, BSE had moved a total 54 companies listed on the OTC Exchange and the Bangalore Stock Exchange to the platform.

The board is required to be set up by stock exchanges having nationwide trading terminals such as BSE.
"Trading Members are requested to note that the companies admitted to BSE Dissemination Board are not listed with BSE (are treated as unlisted companies)," BSE said in a circular.
"There will be no listing agreement executed by BSE with these companies," it added.
The exchange also said that there would be no monitoring of any compliance with respect to filings made by these firms and that information received from them would be disseminated on the board's platform.
Under the BSE DB, brokers of the exchange would act as "point of contact" for registered client, for executing the bid/offers placed.

Among others, the investors do not have any recourse to the investor grievance redressal mechanism.
As per market regulator Sebi's norms, companies listed exclusively on exiting or de-recognised Regional Stock Exchanges (RSEs) are required to seek listing on at least any other RSE that is not seeking de-recognition and exit.
However, those companies which fail to list on any other RSE are treated as unlisted entity and have to be moved to dissemination board.