Over 50 Cos Moved To BSE's Dissemination Board

MUMBAI: To safeguard interests of investors of firms listed solely on exiting stock exchanges, BSE has placed as many as 54 firms listed on the Bangalore Stock Exchange and OTC Exchange of India to the Dissemination Board (DB).

The move, would allow buyers and sellers of the securities of these companies to disseminate their bids/offers using the services of trading members at BSE.

In separate notices, BSE said it is placing 34 companies exclusively listed on the OTC Exchange as well as 20 firms on the Bangalore Stock Exchange on its DB.

Of these, six entities -- C F Technologies, Essemm Information Systems, Krisn Information Technologies, Scarlet Flowers & Agritech, Thungabadra Pulps & Boards Mills and Union Home Products -- listed on the Bangalore Stock Exchange are "vanishing companies", BSE said.

Some of firms on OTC Exchange which have been moved are: Zim Laboratories, Allied Stock Investors, Aditya Coating, Electronica Industries, Cherry Polypack and Hindustan Biotech.

BSE dissemination board is an information disseminating mechanism made available on the bourse's website for buyers and sellers of companies, that are listed exclusively on exiting or de-recognised Regional Stock Exchanges (RSEs) and have failed to obtain listing on any RSE.

The board is required to be set up by stock exchanges having nationwide trading terminals such as BSE.

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