According to a regulatory circular, a hurry of activity in unlisted NSE stocks has tripled India’s largest stock exchange investor Aadhaar, which has accelerated the process of transferring shares between counterparts on 24 March. There is a precursor to the list of stock exchanges. The NSE applied for a non-objection certificate for its IPO with SEBI in August last August and is still waiting for approval.
A spokesman for the exchange said that the share transfer process has been dropped for just one day for three to four months, the NSE investor base has increased by almost three times till April 11.
The spokesperson said, “Investor Aadhaar on March 21 (the NSE’s International Securities Identity Number or the last business day or ISIN was active before Isin, allows for rapid share transfer) around 22,400 … and it is around 60,000 on 11 April,” the spokesperson said.
Isin of NSE, a global identifier for securities, was in suspended mode before 24 March. This meant that the share transfer took up to four months, during which the NSE had to vetest the potential buyer’s bole faides according to SEBI’s fit-end-proposal criteria for the shareholder of the Market Infrastructure Institution (MII). In the case of other listed and unlisted securities, the transfer occurs after the day (T +1).
The fit-end-proper test states that a person holding an MII should have a financial integrity, unaffected by citizens liabilities or punishment, and should have a good reputation and character among other things.
Although SEBI’s spherical spherical unlikes were about reducing share transfer for MII last October, NSE said that it applies to its own shares transfer on March 21, when Tyhin Kanta Pandey took charge as the president of SEBI of Madebi Puri Buch on March 1.
The resulting shares have been transferred to a day, which deal in listed and unrestaded shares according to brokers. Only fit and appropriate individuals can buy shares, and NSE has nominated CDSL as its depository, which is electronically shared in the name of the buyer. Demat Account. Depository participants act as middlemen between buyers and sellers and deposits – either CDSL or NSDL.
Narinder Wadhwa, managing director of Ski Capital Services, said, “The increase in investor Aadhaar is thank you for transferring a day before.” He said that change allows investors who want to buy small shares (100 or less). Institutes and high-net-world individuals (HNIs) usually buy thousands or tens of thousands of shares simultaneously.
“Isin activation has increased liquidity at the NSE counter,” said a broking officer on Tuesday who was carrying out secondary sales of 125,000 shares. He was not detailed because he is not authorized to talk to the press.
Trade between NSE shares 2,260 and According to exchange data, 700 last month. It has a market capitalization 4 trillion, while its listed colleague BSE had a market cap 79,859 crore during trading on Tuesday.
The NSE was the top shareholder as the December quarter Life insurance corporation of india ,