All market infrastructure institutions, whether listed or unlisted, need to disclose shareholding patterns says SEBI

All market infrastructure institutions (MIIs) in India, whether listed or unlisted, will now need to disclose their shareholding patterns, Securities and Exchange Board of India (SEBI) stated today. In a circular with subject as Monitoring Shareholding of Market Infrastructure Institutions, the regulator noted that framework for monitoring and ensuring compliance with shareholding norms currently applicable to listed Stock Exchanges and listed Depositories shall be applicable to all MIIs (i.e. both listed and unlisted); and All MIIs shall disclose their shareholding pattern as per the requirements and formats specified for listed companies under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (LODR Regulations, 2015) on their respective websites.

 

Every MII has to appoint a designated depository (DD) for monitoring the shareholding limits and to ensure that shareholders who hold more than two percent or more of equity shares or voting rights of any recognised stock exchange or depository are fit and proper persons. The MIIs shall at the time of appointment of the DD provide the details of paid-up equity share capital including the number of shares to the DD and as and when there are changes, the same shall be informed to the DD on End of Day (EoD) basis.

The DD shall monitor and inform the MII and stock exchange on which its shares are listed (in case of listed MII), as and when the threshold limit of 5% or 15%, as applicable under SECC Regulations, 2018 and D&P Regulations, 2018, is breached and take appropriate consequential actions.
The regulator has asked the DD to ensure that the shareholding of trading members (TMs), their associates and agents does not exceed 49 percent of the paid-up equity share capital of any stock exchange; to ensure that at least 51 percent of the share capital of a clearing corporation (CC) is always held by one or more recognised stock exchanges and to ensure that no stock exchange (directly or indirectly or individually or together with

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