SEBI Issues Disclosure Norms For Shareholding In Dematerialised Format

The Listing Regulations require listed entities to disclose the shareholding pattern for each class of securities in prescribed format and 100% (one hundred percent) of the shares held by the promoter/ promoter group are to be held in dematerialised ("DEMAT") format, that is to be maintained at all times. Accordingly, SEBI issued a circular on November 30, 2015 ("Disclosure Norms Circular") to provide the format for disclosing the shareholding pattern(s), as mentioned above, and the manner in which the shares of promoter/ promoter group are to be held in the DEMAT format. Salient features of the Disclosure Norms Circular have been summarised below:

1. The holding of specified securities is to be divided into 3 (three) categories, namely, "promoter/ promoter group", "public" and "non-promoter non-public". Further, the details of the promoter/ promoter group shareholding(s) are to be consolidated on the basis of the PAN and folio number in order to avoid multiple