• Functioning of Dissemination Board of BSE Ltd

    PREAMBLE:
    Securities and Exchange Board of India (SEBI) vide circular no. CIR/ MRD/ DSA/ 14/ 2012 dated May 30, 2012 on “Exit Policy” provided an exit option to the de-recognised stock exchanges and recognised stock exchanges seeking voluntary surrender of recognition ("exiting RSEs").

    Companies listed exclusively on exiting or de-recognised RSEs were required to seek listing on atleast one other Exchange that is not seeking de-recognition and exit in terms of the aforesaid SEBI Circular. As per the aforesaid SEBI Circular, company failing to list on other Exchange shall be treated as an unlisted company and shall be moved to Dissemination Board (DB) of a nation wide Stock Exchange by such “exiting” Exchange.

    The BgSE Properties & Securities Limited (BgSE) in order to comply with the requirements of SEBI’s Circular on “Exit Policy” entered into an agreement with BSE ltd for utilising services of their “Dissemination Board” platform and shifted all its exclusively listed companies to the “Dissemination Board” of BSE Ltd which failed to obtain listing on other Stock Exchanges.

    Dissemination Board (DB) at BSE Ltd:
    BSE has launched a Dissemination Board mechanism on BSE India website (www.bseindia.com) enabling dissemination of bids/Offer placed by buyers and sellers of securities of companies that are listed exclusively on exiting or de-recognised RSEs using the services of the Trading Members of BSE.

    BSE DB has the following features:

    Obligations of Buyers and Sellers:

    • The buyers and sellers will be required to register themselves with a Trading Member of BSE and are required to be KYC (Know Your Client registration with KYC Registration Agency) compliant.
    • The buyers and sellers will provide their bids and offers only through the Trading Member with whom they have registered as referred in point (1) above
    • The bid/ offers can be given only with respect to the securities of companies that are admitted to the BSE DB.

    Obligations of Trading Members:
    • The Trading Member shall not co-mingle its broking activities with the activities conducted under the BSE DB guidelines. Clear segregation is required since arbitration mechanism, IPF (Investor Protection Fund) and TGF (Trade Guarantee Fund) are not available for the transactions done using BSE DB.

    BSE DB Operational Framework:
    Company related:

    • The companies admitted to BSE DB will not be listed with BSE. Thus there will be no listing agreement executed by BSE with these companies.
    • There will be no monitoring of any compliance with respect to filings made by the company.
    • Information received (if any) from companies will be disseminated on the BSE DB platform

    Transaction related:
    • Trading Member(s) is/are provided a facility in the BEFS (BSE Electronic Filing System URL-https://befs.bseindia.com/ for placing the bid/ offer requests for their client(s).
    • No direct interface will be provided to the buyer/ seller to upload their bid/ offer on BSE DB.
    • The bid/ offers will be displayed in a separate section for BSE DB on BSE Website (www.bseindia.com)
    • Along with other details of the bid/ offer requests, the investors’/ Trading Members’ contact details will also be displayed.
    • Trading Members or investors can view bid/ offers posted on BSE DB and directly contact the counter party Trading Member(s)/ investor(s) to discuss and conclude the trade. There will be no matching of trades in the system.
    • Trading Members will have a facility to modify/ cancel the bids/offers and the updated status will be displayed on BSE DB platform.
    • On execution of trade, Trading Members shall be required to suitably update those bids/ offers on BEFS, which shall be accordingly updated on the BSE DB platform.
    • The bid/ offers posted on BSE DB will remain valid for a period of 1 week (7 calendar days) from the date of their posting after which such bid/ offers will be purged.
    • No contract note is required to be issued for such transactions.

    Other Important Information about BSE DB Platform:
    • Trading Members shall act as "Point of Contact" for their registered clients for placing the bid/ offers placed by such clients and may impose such conditions as they may deem fit.
    • The Rules, Bye-laws and Regulations of BSE will not be applicable to such trades emanating from bids/ offers placed by buyers and sellers on BSE DB.
    • The trades resulting out of bids/offers posted on BSE DB will be cleared and settled outside BSE/ ICCL (Indian Clearing Corporation Ltd.) and BSE/ ICCL will not guarantee the clearing and settlement of such trades.
    • The buyers and sellers on BSE DB will not have any recourse to the investor grievance redressal mechanism, including arbitration and Investor Protection Fund (IPF), for trades executed pursuant to bid/ offers posted on BSE DB.
    • BSE will have no surveillance oversight on the bids and offers placed on BSE DB.
     


    The Investors are requested to refer to and rely on the Circular/Guidelines issued by SEBI and BSE Ltd from time to time before using the facility of BSE DB.

  • List of companies shifted to Dissemination Board of BSE Ltd
    Name of the CompanyAddressFace Value
    Agro Extracts Ltd Agro Extracts Ltd M/s. Agro Extracts Ltd, Plot No. 16, Phase II, Peenya Industrial Area, Bangalore - 560 05810
    Bhavani Tea & Produce Company Ltd M/s. Bhavani Tea & Products Co Ltd P.B. No. 1026, Nandagokul No. 11, East Periaswamy Road COIMBATORE – 641 002 10
    Canara Steel Ltd M/s. Canara Steel Ltd N-301, 3rd floor, North Block, Front Wing, Manipal Centre, 47 Dickenson Road, BANGALORE – 560 042. 10
    CF Technologies M/s. CF Technologies Ltd No. 66, 17th A Main, HAL 2nd Stage 100 Ft Road, Indiranagar, Bangalore – 560 075 10
    Cochin Plantations Ltd M/s. Cochin Plantations Ltd Ooppoottil Bldg, K.K. Road Kottayam – 596 001 KERALA 10
    Davanagere Sugar Company Ltd Davanagere Sugar Company Ltd M/s. Davanagere Sugar Company Ltd 73/1, PB No 312, Shamanur road Davanagere – 577 004 10
    East West Hotels Ltd East West Hotels Ltd M/s. East West Hotels Ltd No. 3115, 6th C Main, 13th Cross, HAL 2nd Stage Indiranagar Bangalore – 560 008 10
    Esseem Information Systems Ltd M/s. Esseem Information Systems Ltd, No.14, SDF, V.E.P.Z, Duvvada, Vishakapatnam - 53004610
    Foureen Aparels Ltd Foureen Aparels Ltd M/s. Fourenn Apparels Ltd No. 110, J&K, 8th Cross Bommasandra Industrial Area Hosur Road BANGALORE – 560 099 10
    FSL Projects Ltd FSL Projects Ltd M/s. FSL Projects Ltd No. 602, Lakeshore Towers Rajbhavan Road Somajiguda HYDERABAD – 500 082 10
    Kap Chem Ltd M/s. KAP Chem Ltd No. 309, 1st floor, Westminister No. 13, Cunningham Road Bangalore – 560 05210
    Kap Steels Ltd M/s. KAP Steel Ltd No. 309, 1st floor, Westminister No. 13, Cunningham Road Bangalore – 560 052 10
    Krisn Information Technologies Ltd M/s. Krisn Information Technologies Ltd No. 12-6-11/4, Main Road Kukutpally, HYDERABAD – 500 072 10
    Mysore Paints & Varnish Ltd Mysore Paints & Varnish Ltd M/s. Mysore Paints & Varnish Ltd Thilak Nagar, Bannimantap Extn MYSORE – 575 015 10
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