October 02, 2012 / NSE
Companies listed on The Exchange must maintain a minimum free float for the set standards under which they are listed in order to ensure that there is an orderly and liquid market in their securities.
The free float requirement for companies on the Main Board is 20% and 15% for ASEM companies.
The Exchange has identified five companies that have free float deficiencies. These companies applied for waivers from The Quotations Committee and specifically provided compliance plans with tentative timelines to support their requests.
The Quotations Committee considered and approved an extended timeframe for the companies to regain compliance to this Listing Requirement.
The companies are however required to also provide quarterly disclosure reports to The Exchange detailing their level of implementation of the compliance plans.
The names of the companies are: