GENERAL MANAGER
Market Regulation Department
SEBI/MRD/DEP/Cir-2/06
January 19, 2006
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The Chairman & Managing Director
National Securities Depository Ltd.
Trade World, Kamala Mills Compound,
Senapati Bapat Marg, Lower Parel, Mumbai – 400 013.
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The Managing Director
Central Depository Services (India) Ltd.
Phiroze Jeejeebhoy Towers,
Dalal Street, Fort,
Mumbai 400 023.
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Dear Sirs,
Sub. : IPOs – ISINs to be activated after commencement of trading on the stock exchanges
1. Having regard to the recent developments relating to transactions in shares of IPOs during the pre-listing period, the depositories are advised that in case of IPOs they shall activate the ISINs only on the date of commencement of trading on the stock exchanges.
2. This circular is being issued in exercise of the powers conferred by Section 11 (1) of Securities and Exchange Board of India Act, 1992 to protect the interest of investors in securities and to promote the development of, and to regulate, the securities market.
Yours faithfully
V. S. SUNDARESAN