Leading stock exchanges NSE and BSE have decided to move the newly listed firm Shemaroo Entertainment to the normal trading segment from tomorrow.
Following a successful Rs 100 crore initial public offer (IPO) in September, Shemaroo got listed for trading on the National Stock Exchange (NSE) and the BSE on October 1.
However, the company was available for trading on the trade-for-trade segment of the exchanges.
In separate notices today, BSE and NSE informed trading members that "Shemaroo Entertainment Ltd shall be transferred from trade for trade segment to rolling segment with effect from Tuesday, October 21, 2014".
Under the trade-for-trade segment no speculative trading is allowed and delivery of shares and payment of consideration amount are mandatory.
According to BSE, the move comes after Shemaroo complied with the requirement with respect to 100 per cent promoter holding in dematerialised mode or electronic mode.
Shemaroo, which is into film and entertainment content business, had entered the stock market last month with an IPO of shares in the price band of Rs 155-170 to raise about Rs 100 crore.
The company's IPO was oversubscribed 7.39 times.
Ahead of the IPO, the company has raised Rs 36 crore from anchor investors.
