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 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.