Brightcom Group, whose shares have been suspended from regular trading for nearly seven months, has shared a detailed plan regarding the re-listing of its shares on the stock exchanges. However, the company has not provided a specific timeline for when this re-listing will take place.
Compliance Updates
In a separate exchange filing, Brightcom Group reported significant progress in meeting compliance requirements stipulated by the NSE and BSE:
- Shareholding Pattern: Updated for all pending quarters.
- Financial Results: Declared for all pending quarters, along with the annual report for FY23.
- Annual General Meeting (AGM): Conducted in November 2024 for FY23.
- Penalties: Fully paid penalties levied by the NSE and BSE for delays in compliance.
What Happens Next?
The re-listing process involves several steps before the shares can trade again on the stock exchanges:
- Verification by Exchanges:
- Exchanges will verify all submitted documents and filings for compliance.
- A site visit will be conducted to confirm operational and regulatory readiness.
- Exchange Circular:
- Post verification, the exchanges will issue a circular notifying the re-listing date.
- Special Pre-Opening Session (SPOS):
- The re-listing will be conducted through a Special Pre-Opening Session (SPOS) in compliance with exchange rules.
Re-Listing Process
The re-listing process will follow these stages:
- Pre-Open Session (9:00 AM to 10:00 AM):
- Order Entry (9:00 AM to 9:45 AM):
Investors can place, modify, or cancel their limit orders. - Order Matching (9:45 AM to 9:55 AM):
Limit orders will be matched to determine the opening price, with price discovery and trade confirmations. - Transition to Regular Market (9:55 AM to 10:00 AM):
The discovered opening price will serve as the reference price for the regular market.
- Order Entry (9:00 AM to 9:45 AM):
- Regular Trading (10:00 AM onwards):
- Trading resumes with a price band set at 85% lower to 50% higher than the base price (last traded price before suspension).
Key Considerations
Brightcom Group’s efforts to achieve compliance and provide transparency reflect its intent to resume trading. However, investors should closely monitor updates from the exchanges for the final timeline and details regarding the re-listing process.
