Standard Operating Procedure for listed subsidiary company desirous of getting delisted through a Scheme of Arrangement wherein the listed parent holding company and the listed subsidiary are in the same line of business.

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.... To All Listed Entities who have listed their equity and convertibles All the Nationwide Stock Exchanges Dear Sir/Madam, Sub: Standard Operating Procedure for listed subsidiary company desirous of getting delisted through a Scheme of Arrangement wherein the listed parent holding company and the listed subsidiary are in the same line of business. 1. SEBI, vide notification dated Ju....

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....8. ii. Not less than 50% of revenue from the operations of the listed holding and listed subsidiary company must come from the same line of business as per last audited annual financial results submitted by both the companies in compliance with SEBI (LODR) Regulations, 2015. iii. Not less than 50% of the net tangible assets of the listed holding and listed subsidiary must have be....

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....)(e) and (f) of the SEBI (Delisting of Equity Shares) Regulations, 2021, the shares of the listed holding company and the subsidiary company shall be listed for at least 3 years and the subsidiary company shall be a listed subsidiary of the listed holding company for a period of 3 years. 5. The recognized stock exchanges are directed to bring the provisions of this circular to the notice of the....