Circular SEBI/HO/MRD/CIR/P/2025/3266 of the Securities and Exchange Board of India dated 8th November, 2025 on the listing of securities [C12-FH7]

SEBI/HO/MRD/CIR/P/2025/3266

Securities and Exchange Board of India

Mumbai, dated the 8th November, 2025

CIRCULAR

To

All adjudicating officers,

Subject: The listing of securities by listed companies under the Securities and Exchange Board of India Act, 1992, regarding.

This circular is issued in exercise of the powers conferred under section 9 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), to protect the interests of investors in securities and to promote the development of, and to regulate, the securities market

1. References have been received seeking clarification on the manner in which section 9 applies to the listing of securities by listed companies.

2. The matter has been examined. Every listed company carrying on the listing of securities shall make an application in Form B to the Securities Appellate Tribunal within forty-five days, accompanied by a fee of twenty-five thousand rupees.

3. It is, accordingly, clarified that a separate application shall be made in respect of each place at which the listing of securities is undertaken, and the Securities Appellate Tribunal shall dispose of it within forty-five days of its receipt.

4. Difficulties, if any, in the implementation of this circular may be brought to the notice of the Securities and Exchange Board of India.

(Chief General Manager)