BSE Notice No. 20261021-14 dated October 21, 2026
NSE Circular Ref. No. NSE/CML/2026/22 dated October 21, 2026
Effective Date: November 01, 2026
National Stock Exchange of India Limited (NSE) and BSE Limited have issued a circular and a notice, addressed to all listed entities, on a common Standard Operating Procedure (SOP) for granting approvals for further issues. Listed entities raising capital through Preferential Issues, Rights Issues, Qualified Institutions Placements, Foreign Currency Convertible Bonds, American Depository Receipts, Global Depository Receipts, Employee Stock Option Plans, Employee Stock Purchase Schemes, Sweat Equity, Bonus, Schemes of Arrangement and similar issues submit applications to the respective recognised stock exchange(s) for approvals or a No Objection letter. According to the circular, each recognised stock exchange currently follows its own procedure for processing these applications, and approval is given in coordination with other exchanges. The circular states that the exchanges, in consultation with SEBI, have agreed to adopt a unified approach and issue a joint common SOP to achieve a uniform, consistent, coordinated and expeditious approval process for commonly listed entities.
For commonly listed entities, the exchanges will allocate further issue applications among themselves on an alternate basis, for processing only. The exchange that receives an application is the “Lead Stock Exchange” for that application. The other exchange(s) are the “Recipient Stock Exchange(s)”. The listed entity must submit its application(s), with all requisite checklist documents, simultaneously to each exchange where its securities are listed, through that exchange’s portal. The process and timelines for filing applications do not change. The Lead Stock Exchange will inform the company of the allocation. Each exchange will independently review the checklist documents submitted as per its own checklist and will coordinate with listed entities only for checklist or relevant documents.
The Recipient Stock Exchange(s) will share all queries and concerns with the Lead Stock Exchange, which will raise them with the listed company. The company must submit its response only to the Lead Stock Exchange. Once it receives a satisfactory response, the Lead Stock Exchange will coordinate with the Recipient Stock Exchange(s) to dispose of the application.
The mechanism applies only to companies listed on more than one exchange. The process does not change for companies listed exclusively on one exchange. All listed entities are directed to take note of the circular and comply with it. The SOP applies to all further issue applications submitted on or after November 01, 2026.
For BSE, in case of any clarification, the entities are advised to adhere an email on bse.furtherlisting@bseindia.com and for NSE, in case of any clarification, the entities are advised to adhere an email on DL-FI@nse.co.in.
Links: For BSE https://www.bseindia.com/downloads/UploadDocs/Notices/20261021-14/20261021-14.pdf
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