Smaller companies have been more successful at delisting, with 20 of the 38 successful delisting offers being less than Rs 100 crore in size. In contrast, less than a fifth of the successful delistings have been greater than Rs 500 crore in size, according to Sebi data. The statistics looked at the period from March 2014 stretching back to June 2009, the latter being the previous time delisting norms were changed. Sebi came out with a discussion paper on new delisting norms last month