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<h1>Clarification on Derivatives Eligibility for Restructured Companies: Apply IPO Criteria from Listing Day per SEBI Directive.</h1> This circular provides clarification on the eligibility criteria for introducing derivatives on stocks of companies undergoing corporate restructuring, as outlined in a previous circular dated January 20, 2006. It specifies that if a restructured company issues an Initial Public Offering (IPO), the criteria for introducing derivatives on IPO stocks should be applied from the first day of the company's listing. This directive is issued under the authority of the Securities and Exchange Board of India Act, 1992, and the Securities Contract (Regulation) Act, 1956, to protect investor interests and regulate the securities market.