BSE to delist 64 companies from Dec. 13

BSE, Asia’s oldest bourse, will be delisting 64 companies from December 13. The companies to be delisted have remained suspended for more than 13 years. This is addition to 194 companies already delisted by the exchange in August, 2016. Currently, 2,778 companies are traded on the BSE.

The securities of these corporates have been under suspension for more than 13 years on account of non-compliance of various clauses of listing regulations. BSE is delisting the companies due to order of the Delisting Committee of the exchange in terms of Securities Exchanges Board of India (SEBI) (Delisting of Equity Shares) Regulations. 

BSE will move the delisted scrips to the dissemination board of the bourse for five years as directed by markets regulator SEBI. Some of the companies to be delisted include Ambuja Zinc, Asian Alloys, Elder Telecom, Hindustan Breweries & Bottling and Zenith Steel Tubes and Industries. At the same time, BSE also clarified that promoters of the delisted companies will be required to purchase the shares from the public shareholders as per the fair value determined by the independent valuer appointed by the exchange.